Neo-Neon to Open 2,000 LED Lighting Shops in Mainland China

Taipei, Aug. 19, 2010 (CENS)--Neo-Neon LED Lighting International Ltd., which is reportedly the world's No.1 manufacturer of decorative lighting, will open 2,000 shops in three to five years throughout mainland China to sell its light emitting diode (LED) lighting fixtures at an estimated investment of 500 million Chinese yuan (US$73 million).

The company's chairman, B.Y. Fan, announced the bold outlet plan yesterday and added the plan was introduced to prepare the company for the bright outlook of LED-lighting market, which is estimated to take off soon as a result of considerable cost drop of the lamps.

Topology Research Institute, a Taiwan-based market consulting firm, estimated that the average cost of an LED bulb will further drop 15-20% to US$3.7 between 2013 and 2016 after falling 25-30% to US$6.4 in 2013, accelerating the replacement of incandescent bulbs with LED types.

The company opened its first retail shop in Hong Kong early this year and will open a store in Taipei next year, according to Fan.

The company has set up offices in Shenzhen, Guangzhou, Shanghai, Beijing and Tianjin to handle opening of the stores.

Neo-Neon's LED lighting business is backed up its LED-packaging and LED-chip operations and the specialists from Taiwan, which is the world's No.1 LED manufacturer by volume.