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A further decline in bulb prices in April will boost demand.
We maintain a good judgment on the LED industry and judge the price of LED bulbs. The decline in the price of end products is conducive to the accelerated release of demand, but for manufacturers in the industrial chain, it may mean further pressure on profitability. The profitability of manufacturers will begin to differentiate. Some manufacturers that have a dominant position in the industrial chain may rely on the advantages of scale effect to resolve the pressure brought by price cuts, but some manufacturers will be eliminated in the process of falling prices and increasing competition.
From the global LED bulb quotation in April, the price has dropped further, and the competition among manufacturers has gradually warmed up. Some of the original international lighting manufacturers whose original prices are at a high level have dropped below 10 Euros (instead of 40W incandescent products).
The lowest price for LED bulbs replacing 40W and 60W incandescent bulbs has reached $4.1 and $5.7, respectively, with an average price of $16.1 and $23.8, respectively.
In Europe, prices have fallen sharply. The UK and Germany replaced the 40W products with a decrease of 5.3 and 13.2 respectively, replacing the 60W products with a decrease of 4.8 and 7.3 respectively.
The price of 40W products in China has dropped sharply by 9%, the lowest in the world.
The fall in prices is an important driving force for demand. We believe that the further increase in competition is mainly due to: 1. Downstream manufacturers are gradually becoming more consistent with the terminal demand recovery and even good judgment, so that more manufacturers join the competition, in order to occupy the market earlier. For example, Samsung and Osram have rapidly lowered the prices of products in the European channel, and seized the market space that was vacant after the ban on incandescent lamps. 2.
Strong manufacturers have increased the distribution of channels, resulting in a downward shift in the price range of strong brand products. The premium space of some weak manufacturers is becoming smaller and forced to further price competition.
The Chinese market has started and is increasingly being valued by international companies. According to the statistics of NPDDisplaySearch, the overall demand for LED lighting market in China will account for 18.7% of the world in 2013. It is the second only region in Japan and Europe. In 2014, China's regional demand will account for 20.2% of the global total, surpassing Europe.
International manufacturers have increased their emphasis on the Chinese market. For example, in May 2013, Philips All-round LED bulbs were officially listed on the Chinese market, and the product price was at least RMB 49, which accelerated the opening of the Chinese market.
April global LED bulb prices fell further
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