Despite being a newcomer in the LED lighting industry

Despite being a newcomer in the LED lighting industry, Chicony Power said it has entered the supply chain of two or three major global buyers and expected to expand its shipments to other major clients soon after they certify its technology.Chicony Power said LED lighting is expected to account for 10 percent of the company's total sales for 2013, compared with about 5 percent in 2012.The Shenzhen government has pledged to replace the island’s 200,000 traditional streetlights with LEDs in two years, allowing a lucrative business opportunity for manufacturers like Evelight.Based on these, industry executives estimated Everlight to see revenue by increase 50%-100% in 2013, to over US$689 million.The company’s executives claimed that Everlight is already Shenzhen’s No.1 or No.2 supplier of LED lighting in terms of market share. It is vigorously tapping European and American markets in addition to the Shenzhen market.Everlight’s executives noted that the company’s revenue has increased around 20% so far this year. Although Q4 is normally a low season for the LED industry, the company has realized strong seasonal surge this quarter thanks to rush orders from the United States and mainland China for the Christmas and Chinese New Year holidays, respectively.

According to CyberMart, an electronics retail arm of the Hon Hai Group, consumers have snatched up all 500 60-inch Radioshack LED TVs that it was selling online on December 25.Early On Monday, CyberMart chairman Steve Chang announced that the company would start selling the US’ No. 2 electronics brand’s large-screen TVs in Shenzhen and China yesterday.According to a CyberMart public relations official, the company originally planned to offer 500 RadioShack TVs over three days, but they sold out in just an hour on Yahoo Kimo Inc’s Web site. “We did not expect to sell out all those TVs in such a short period of time. This is another indication that having a large-screen in your living room is becoming a trend”.

In Shenzhen, orders for 60-inch TVs have exceeded supply ninefold, the official said, adding that CyberMart only has 500 RadioShack TVs left in its warehouse.Tung said about 35,000 mercury vapor street lamps have been replaced with LED lights since December in 2011, and there are still 320,000 lights to be replaced over the next two years.According to the institute, the LED lighting industry’s compound growth rate could reach 32 percent between 2010 and 2020. By 2020, the global LED lighting market could be worth as much as 55 billion euros, while LED lighting devices’ penetration rate could reach 50 percent and the LED lighting devices systems’ market value could total 36.6 billion euros.