Philips enjoys 43 per cent rise in LED sales
LED sales at Philips have grown by 43 per cent in quarter four of 2012, compared to the previous year’s quarter.
According to the company’s latest financial results, sales in its lighting portfolio have risen by 4 per cent in 2012’s quarter four to €2.26 billion (£1.9 billion), when compared to the same period the previous year.
Philips’ 2012 annual results, announced this week, show sales in its lighting business grew to £7.2 billion in 2012, up from £6.5 billion in 2011.
The company’s lighting sales rose in Europe, China, India and Brazil but decreased in the US. The group said its LED sales now represent 25 per cent of its total lighting sales.
Philips also announced the sale of its audio, video, multimedia, and accessories divisions to Japanese company Funai Electric Co, as it continues to shift its focus away from consumer electronics, to its growing LED lighting business and health business,
In 2012, 52 per cent of its lighting sales came from light sources and electronics, 29 per cent from professional lighting, 9 per cent from automative lighting, 6 per cent from consumer luminaires and 4 per cent from lumileds. Philips said it has experienced double-digit growth in lumileds in the fourth quarter.
Frans van Houten, CEO of Philips, said: “Our growth initiatives are working, as we increased sales despite the challenging, economic environment in western economies. Our operational results improved across all sectors, as a result of increased sales, overhead cost reductions, and gross margin expansion.”