Philips is sharply cutting prices of its light-emitting diode (LED) bulbs to encourage more customers to use them at home.
Thanakorn Wongwises, general manager for lighting at Philips Electronics (Thailand), and a pixie display the company’s new cheap LED bulb. TAWEECHAI TAWATPAKORN
It introduced 40 new LED bulbs yesterday at prices 45-55% lower than existing lines. The new five-watt bulbs cost 199 baht, down from 450 baht.
"Bulb prices can go down because more people are shifting to use LED bulbs, resulting in an economy of scale," said Thanakorn Wongwises, general manager for lighting at Philips Electronics (Thailand).
Philips is using new technology requiring fewer raw materials for its new LED bulbs featuring high lumen.
"We have seen an extraordinary increase in demand for LED lighting solutions in recent months," Mr Thanakorn said.
"But as few consumers have switched to LED bulbs due to their high prices compared with conventional bulbs, we decided to lower our prices to stimulate more use."
Philips claims its new LED bulbs will last for 15 years and are eco-friendly because they contain no mercury.
The bulbs are available at more than 8,000 stores and Philips Home Lighting Centers nationwide.
Mr Thanakorn said the market for energy-saving lighting products has grown significantly in recent years due to rising concerns about global oil prices, a shortage of energy resources and global warming.
These issues have persuaded many organisations around the world including Thailand to seek energy-saving solutions.
Thailand's market for lamps and lighting fixtures was valued at about 20 billion baht in 2012.
Lamps accounted for 8.2 billion baht, with LED lamps representing about 3%, while lighting fixtures were worth 12 billion baht, with LED fixtures accounting for about 11%.
Next year it is expected LED lamps will make up 21% of the lamp market, with LED fixtures rising to 38%.