Prices of LED lamps and luminaires halve over last 9 months
KOLKATA/NEW DELHI: Prices of LED lamps and luminaires have almost halved in the past 6-9 months, thanks to a fall in global prices of their chips and local output by Philips.
Light-emitting diode (LED) lamps-which are nearly three times more energy efficient and lasts six times longer than compact fluorescent lamps (CFL)-are now selling at as low as 600, down from above 1,000 earlier. They still cost much more than CFL lamps available at 80-250. LED luminaire prices now start at 2,000.
The price reduction is led by Philips, which has signed production contracts with local partners for manufacturing LED lamps and luminaires designed at Philips research centre in Noida.
"Local production will give a big boost to LED lamps and luminaires, since the high import duty varying between 10-30% can be directly passed on to the consumers," Philips Electronics India Business Head & vice-president (Lighting) Nirupam Sahay said. LED chips, which are still not manufactured in India, attract 5% import duty.
LED segment accounts for less than 3% of the country's organized lighting market estimated at 7,000 crore and growing 25-30% a year. The CFL market is estimated at 2,000 crore and LED at 200 crore. With prices coming down and awareness increasing, the industry expects the LED lighting market to grow rapidly, even though players such as Havells believe the market is too small to start production locally.
Havells imports LED lamps from US-based light maker Cree, but it has started assembling LED fixtures at its Neemrana factory.
"Instead of importing fully assembled LED fixtures, most companies are assembling it in India to increase value-addition and reduce prices," Havells India President Sunil Sikka said.
LED prices may ease by 10-20% annually due to fall in global prices, he said.
Philips, however, recently launched locally developed LED lamps of 5W and 7W and promised to expand its made-in-India portfolio.
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