Monday, September 22, 2014: Looking at the lucrative electronics market in the country, Toshiba Lighting is planning to set up its manufacturing base in the country and has also even made significant investment in R&D centres of its subsidiary GreenStar. The company aspires to gain business worth $40 million within the span of next five years in LED segment with over 40 per cent yearly growth.
Toshiba’s current revenue base in India is around $4 million. While talking about their plans Yoichi Ibi, president and CEO of Toshiba Lighting & Technology Corporation told PTI, “Our primary manufacturing facilities are in China and Japan. We are also trying to see India as next manufacturing base, not only for the local market but also producing for global needs.” He further added that the sales volume in coming years would decide upon it.
Toshiba has already started making their initial investment in R&D equipments and GreenStar India’s labs to meet the global demand of design. Sarosij Sengupta, Greenstar director India Technology & Operation Centre mentioned that Toshiba would develop lighting market here, utilize design and resource capabilities and will also create global design centre for manufacturing products for global market.
GreenStar became the part of Japanese electronics giant Toshiba in 2012. It develops LED street lights, high bay/low bay LED lights and LED based billboards. Toshiba would be using GreenStar branding in India and in other countries, it would either have Toshiba or would use co-branding.
