LG Innotek (CEO Ung-Beom Lee) recently signed a strategic supply contract with Future Lighting Solutions, a Canada-based lighting distributor, in a push to make inroads into the global LED lighting market. 

LG Innotek plans to conduct distribution of LED lighting-focused lighting solutions jointly with Future Lighting Solutions, and thereby continue to elevate its stature in the global lighting market.

LED lighting is an industrial arena that comprises countless small and medium firms. The key to success in the global market is to secure networks to supply products to lighting companies that are scattered around the world.

As such, by signing the contract with FLS, LG Innotek will proactively supply LED lighting and solutions, centerpiece of LED lighting, and continue to expand its global market share.

FLS is a business unit of Montreal, Canada-based Future Electronics, and operates a sales and marketing network with 160 branches in more than 70 countries worldwide. With hundreds of professionals in LED lighting, the company conducts far-reaching marketing and sales activities.

As LG Innotek’s expertise in LED and business solutions generates synergistic effect with FLS’ solid sales network, the two companies are expected to take solid lead in the fast growing global LED lighting market. Industry insiders also expect the alliance between the two players will bring about a seismic shift in the map of global lighting market. 

LED Lighting Business Division Suk-Hwan Kang  in charge of lighting in the LED business at LG Innotek said, “The contract will not only help instantly boost the Company’s market access in the global market, but will also allow it to continually expand our product line-up, thereby enabling us to provide solutions conducive to various lighting products.”

Gerry Duggan, Vice president of Future Electronics, said, “We were quite surprised to see LG Innotek’s competitive LED products and portfolio, outstanding technology roadmap, and world best capacity in manufacturing process in the lighting market,” adding, “With the signing of the contract, our company has boosted capacity to provide our customers with the best LED lighting solutions in the industry.”

The global LED lighting market is projected to hit 21 trillion won in 2013 and 41 trillion dollar in 2015.
 

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*About Future Lighting Solutions
Future Lighting Solutions has been spearheading the semiconductor lighting industry since 2001. The company’s engineering staff comprising lighting experts provides the best solutions by using online simulation and design tools, and helps accelerate customers’ time to introduce products. The company’s comprehensive portfolio includes a broad selection of LED system components, and integrated or customized solutions designed to enable cost effective, energy efficient lighting applications. As well, by integrating lighting assistance centers scattered around the world with a state-of-the-art supply chain, the company is supplying best quality lighting products to customers. The company is a division of Future Electronics. For more information, visit: www.FutureLightingSolutions.com

[Photo caption] A staffer from LG Innotek displays various LED lighting products to be supplied to Future Lighting Solutions.