Panasonic aims for rapid expansion
Panasonic is looking to increase its European LED lamp business to around 150 million euros over the next four years.
This would amount to 500 per cent growth compared with 2010 figures.
In a statement at the recent Light+Building show in Frankfurt, the company said it is also looking to boost its worldwide sales in the LED sector to around 2 billion euros over the same period – equivalent to 10 per cent of the world market.
Panasonic’s entry into the European market is based on the huge potential it sees in legislative changes such as the phase out of incandescents and increased demand for LED retrofit lamps from consumers.