LED lighting factory enters emerging market strategy

Facing the era of low-cost LED lighting, many LED lighting factories hope to jump off the red sea of price reduction competition and turn to find a new blue sea to enhance profit space. Smart lighting is an example. The field of smart family is very wide. If only focusing on smart lighting is too limited. Although intelligent lighting is a bright vision for the future, LED lighting accounts for a small proportion, so LED factories should not only think about the role they should play in the future, but also develop other intelligent home control solutions, only in this way can we make creative products. On the other hand, the development of emerging markets has also attracted many LED lighting factories. Taking Thailand as an example, many Thai lighting factories are no longer willing to import lamps directly, but hope to set up assembly lines in the local area, go out of Thailand to open up the ASEAN market and make the business bigger. Local manufacturers originally imported products from mainland China. Now they want to further reduce costs and obtain higher profits. They are eager for greater procurement decision-making power and even need more technical knowledge. These are business opportunities for Taiwanese manufacturers. However, if Taiwanese manufacturers only intend to sell products in emerging markets and do ready-made business, it will be quite difficult. Chu Yuchao believes that the key to entering emerging markets is to establish partnerships, such as becoming partners with governments, suppliers or agents, and guiding their technical knowledge, which can provide considerable help for entering emerging markets.