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According to a Dow Jones Newswires report on December 28, Panasonic Corp. will begin producing LED fixtures in China next year for sale in the local market.
Production is expected to start at the earliest fiscal year ending March, and the production group in Beijing and Hangzhou will convert some production lines. Some products may use contractors as prices fall. Products including LED embedded lights, light bulbs and chandeliers will be sold through Panasonic's lighting equipment products in China and large local retailers.
Panasonic Electric Works Co., a wholly-owned subsidiary of Panasonic, and Kuniaki Matsukage, senior managing director of Matsushita Electric Industrial Co., said that the use of LED lamps has grown faster than they expected.
The Chinese government is promoting the use of energy-saving lamps through subsidies and other measures. Therefore, Panasonic regards China as the second only market in Japan. However, the price competition is relatively fierce, and it is said that there are as many as 5,000 to 10,000 companies producing LEC lighting products. Panasonic decided to start local production in order to increase cost competitiveness.
Panasonic and Matsushita Electric will always operate their own lighting business separately, but their operations will soon be combined, as the two companies will merge next month. Matsushita plans to use its LED lighting production in China to generate 15.5 billion yen in fiscal 2015.
Panasonic plans to start producing LED lamps in China. Production is expected to begin as early as the current fiscal year ending March, and plans to use China's LED lighting production to generate 15.5 billion yen in FY2015.