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iq gets smart about japan

by:Demo     2020-09-03
George town: IQ Group Holdings Bhd expects Japan to be a key market for its Lumiqs brand in three years with an estimated annual revenue of $12 m.
Daniel Beasleytold, group chief executive, told StarBiz that Japan is a strong market for the Lumiqs brand because it has about 20 customers in Japan.
\"The product they are buying is our smart LED highbay lighting system, which was released to the market three years ago.
\"The product is used in commercial premises,\" he said . \".
IQ has sales offices or partners in Singapore, Indonesia, the Philippines, Malaysia and the UK.
The Lumiqs market in Japan is expected to create about $4.
Compared with $1 million a year ago, this year\'s $5 million.
According to Beasley, IQ is shifting production of about 30% of LED lighting products, including induction lighting and brackets
Sensors in Dongguan, China.
\"In Dongguan, China, we produce about 65% LED lighting products.
\"This will help us consolidate and optimize our manufacturing activities.
\"We expect that 2020 of our revenue and bottom line will improve after the relocation work is completed by the end of 2018,\" he added . \".
For the 2018 financial years ended March 31, the group posted post-tax losses rm317000 on the back of rm154. 6mil revenue.
\"However, the relationship with our global customers is still positive, we are lucky that our new customers and existing customers have quite a lot of opportunities, are in the process of product development and are planning
\"As the structure of iq r & D resources changes and product development capabilities accelerate, we are still confident in the future.
\"We expect to return to black in the 2019 fiscal year,\" he added . \".
According to the latest report from LED inside, the market size of LED lighting will reach $32.
It will reach 72 bil in 2018 and will reach $33.
When replaceable lighting enters saturation in 2019, industrial, architectural and landscape, outdoor and special commercial lighting will continue to develop.
According to the LED internal survey, the LED lighting penetration rate was 22% in 2017, and it is expected to reach 63% in 2022.
Compound annual growth rate (CAGR)
According to the report, the installed LED lighting products will reach 26% from 2017 to 2022.
\"Smart lighting, niche lighting and lighting in emerging countries are the three major drivers of the global LED lighting market trend,\" the report added . \".
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