Prices of some lighting products increase by 5%-17%
On February 26, Signify (China) Investment Co., Ltd. issued the "About: 2021 Philips Brand Product Price Adjustment Notice" to its regional offices and various channel distribution and end users, announcing that some lighting products will be released from March 5, 2021. The price will increase from day to day.
The "Notice" shows that as the global new crown epidemic continues to spread, all major commodities in circulation are facing price increases and supply pressures. As an important production and living material, the cost of lighting products has also been greatly affected. The imbalance of supply and demand has caused the price increase of various raw materials such as polycarbonate and alloy involved in the production of lighting products and the general increase in international transportation costs. The superposition of these multiple factors has caused a relatively high cost of Philips Lighting’s light sources and lighting products. Big impact.
Therefore, Philips Lighting has decided to adjust the suggested retail prices of some traditional lighting and empty package lighting product lines from March 5, 2021. The products whose prices are adjusted this time mainly involve 16 products including ballasts, lamp cups and halogen tungsten tubes, infrared bulbs, energy-saving lamps, outdoor HID light sources, and fluorescent lamps. The price increases range from 5% to 17%.
In addition, Philips Lighting has decided to adjust the suggested retail prices of some LED lighting product lines from March 16, 2021. The LED lighting product line undergoing price adjustments this time involves 20 products in three product categories: "LED lamps, LED light sources, LED power supplies and modules", with price increases ranging from 4% to 7%.
According to LEDinside, Signify’s headquarters announced at the end of December 2020 that it would increase product prices in the US market, mainly involving professional lighting product portfolios. Among them, the prices of traditional lamps and lanterns rose by an average of 5%; the prices of lamps, ballasts and EvoKits products rose by an average of 6%; and the prices of LED lamps and electronic products rose by an average of 3%.
In January this year, Taiwan Signify also issued a product price increase notice, that is, the price will be re-adjusted from February 1st, mainly covering Philips special/traditional/LED light source products, Philips LED components, lamps and other products.
The impact of the rise in raw materials covers all walks of life. So far, many lighting-related companies at home and abroad have raised product prices. It is expected that more lighting brands will issue price increases in the future.