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Lighting solutions provider, Philips Lighting on Thursday said the company is open to acquisitions globally, including India, in terms of innovation and technology partners to boost its business.
The company that has a focus on light-emitting diode (LED) lightings also said it targets to achieve 45 per cent of its overall revenue from LEDs by 2017 from around 20 per cent right now.
“As many companies, we also have a strategy and our strategy is looking at all the growth opportunities, whether organic or external. So, even if it was anywhere in the world, if a potential acquisition is fitting, we will look into the opportunity including India,” Eric Rondolat, Chief Executive Officer, Philips Lighting, told reporters here.
Domestic market share
He said the company is enjoying its leadership position in India with more than 30 per cent market share and to continue with the same position, would deliver locally relevant products, systems and services to Indian businesses and services.
“We value the trust that customers place in our brand and we are investing further in local research and development capabilities to continue to develop innovative products that meet their specific needs,” Rondolat said.
LED business
The company that has a focus on light-emitting diode (LED) lightings also said it targets to achieve 45 per cent of its overall revenue from LEDs by 2017 from around 20 per cent right now.
“Around 30 per cent of our global revenue comes from LED activities and we believe that that percentage will go up to 45 per cent in 2015 and we are on track. For India, it may happen after two years (close to 2017),” he said.
ronendrasingh.s@thehindu.co.in
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