Signify Innovations to make India hub for EcoLink brand; forays into electrical equipment
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Synopsis
The company, which was the erstwhile Philips Lighting, will scale up the EcoLink brand into other categories from next year. The brand is also sold in Middle East, South Asian countries and some European nations.
Agencies
Signify said the business in India has been inching closer to pre-Covid level from November onward and has grown by double digit in January and February till now over same period last year.
Signify Innovations India, a part of the Euro 6.5-billion lighting products company, is going to make India a hub for its value brand EcoLink which will be extended into home electrical equipment space from the current availability of only lighting products and switches, vice chairman and managing director Sumit Joshi said.
EcoLink to be Rs 500-cr brand in next 3 yrs in home electrical segment: Signify official
Synopsis
Signify is expanding beyond lighting and switches and is entering into the Fans category through EcoLink brand and has plans to add more products to make it a home electrical brand for value-conscious buyers.
New Delhi: Signify Innovations India, formerly known as Philips Lighting India, said its brand EcoLink is expected to clock five-fold growth and will be a Rs 500-crore brand by 2023, according to a top company official. Signify is expanding beyond lighting and switches and is entering into the Fans category through EcoLink brand and has plans to add more products to make it a home electrical brand for value-conscious buyers.
Tech in 2020: The year when homes got smarter of course, there was nowhere else to go
Suddenly, we had more smart wearables, smart hearables, smart speakers, smart TVs basically, every gadget you heard of was getting smarter, in some cases even more than you are.
Manas Tiwari | December 28, 2020 | Updated 16:49 IST
The market has major potential which is yet to be exploited.
Highlights
The market has major potential which is yet to be exploited.
All signs point towards a smarter 2021 where you can expect a higher demand.
What if you could control a 10-year-old LED wire light with voice command? Well, it s possible by using a smart plug. That s how most Indian households evolved in 2020. The restaurants were shut, theatres were not opening and almost everyone was working from home. So, it made sense to turn your house smart and that s exactly what happened. The consumers turned towards contactless solutions and opted for IoT products that added comfort to their lives.