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Philips to Expand LED Products in Korea Market

Global electronics company, Philips, has planned to expand its LED products in the Korean market. Philips began distributing the LED lights in Korea from April 2010. The LED lamps are specifically designed for street lights, stores and offices.

The LED lamps are known for their efficiency, but their applications are limited to televisions, automobiles, billboards and other expensive industrial settings in view of their high costs. However, such a scenario is changing in the Korean industry as more companies are introducing cost-effective LED lights for Korean homes.

The General Manager of Philips’ Asia commercial lighting, Olivier Piccolin commented that the worldwide market for the LED lighting is rapidly increasing as governments across the globe are supporting energy-efficient measures. Piccolin added that although the home LED lighting market currently occupies 1% to 2% of market share, this trend is likely to change quickly.

Philips Lighting’s VP, Kim Yoon Y., stated that the LED bulbs are environmentally-friendly as they use less mercury and utilize minimum electricity.

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