MiscTek Technology Limited Announced Great Profit Increase of the LED Light Products in 2014

The report of the LED light association shows that the LED tube manufacturers in China earns the high profits in the first half of 2014.

Online PR News – 12-August-2014 – Shenzhen/China – According to the recent report by the LED light association in China, the LED manufacturers had the prosperous business in the first half of 2014. Many companies earned good profits in the past six months.

The high profits of the LED spotlight companies were mainly due to the country’s increasing demand for more energy-efficient illumination. The government started some favorable policies to boom the industry in last year.

With the good effects of the favorable policies, more and more shopping malls and offices replace the traditional fluorescent tubes with the greener lights, such as the LED tube products. As shown in the semi-annual financial reports, 31 out of 38 companies improved their business performance, compared with the performance of last year. Nearly half of the companies have more than 50% growth in profits.

Alvin Pak, a senior officer in MiscTek Technology at MiscTek.com said that some LED ceiling light manufacturers achieved more than 200% profit growth. The high profit growth was attributed to the advanced design of the LED chips.

According to Alvin, the core technology in the LED light industry is the LED chip, which is the key device to control the lighting and the screens. A manufacturer will win the business if it develops the cutting-edge technologies of the chips.

China is the largest LED maker in the world. At present there are a lot of companies in this industry. Alvin pointed out that most of these companies were small firms. The huge over capacity made the LED tube industry even more competitive in the past several years.

The LED lighting products are more energy-saving than the traditional incandescent bulbs and the fluorescent tubes. It seems that the new lighting kit is the good replacement for the traditional light. However, the high prices of the lights make themselves less popular in the Chinese market. The LED spotlight products are still not widely used in the costal cities, where the standard livings are higher than the inland areas. There is no need to mention the lack of concern in the countryside.

The huge over capacity and the small domestic demand made the LED ceiling light manufacturers struggled in the past several years. Most companies relied heavily on the overseas markets. The North America and the Europe are the target markets.

In the past several years, the government released some favorable policies to boom the LED tube industry. According to Alvin, a new plan will be launched to phase out the traditional incandescent bulbs of over 60 watts. No sales or imports of such bulbs are allowed in China after October the first.

The information from Alvin also shows that the government is encouraging offices and shopping malls to install the greener LED light products to protect the environment.

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