Chennai, Feb 25 (PTI) Wipro Lighting and FurnitureBusiness, a division of Wipro Ltd, plans to enter newermarkets that are growing after the global financial crisis in2008, a top company official said here today.
"The company plans to enter newer markets which aregrowing after the impact of global financial crisis in 2008.
We need to wait and watch on how these markets grow after thecrisis," Wipro Commercial Lighting and Furniture Businessdivision Vice-President and Head Parag Kulkarni told reportershere.However, he declined to divulge further details on themarkets the company plans to enter.
The Bangalore-based company already has a presence in theMiddle East and African markets.
Kulkarni expressed confidence in the company postingstrong growth this year as the domestic LED lighting industrywas poised for significant growth.
The company reported 26 per cent growth in revenuesduring the quarter ending December 31, 2010, vis-a-vis thecorresponding period of the previous year.
Kulkarni said they have surpassed the industry''s averagegrowth of 14-15 per cent. The domestic LED lighting market isvalued at Rs 1,400 crore with a growth of 14-15 per cent.
"Well, our growth is more than the industry''s growth," hesaid.
Kulkarni was here to unveil the company''s premium rangeof indoor and outdoor LED-based lighting.
Targeting business-to-business consumers, he said thecompany has tied up with a Canada-based designer firm to offerthe "Transit" range of modular furniture. "These products arespecifically designed for the Indian market and each areunique from others," he said.
Stating that LED lighting technologies have a stronggrowth in future, with many industries focusing on them, hesaid the "ORIO" range of street lighting systems launchedtoday were developed on a new platform.
"The Cres LED are indoor lighting range systems andworkstation mounted lighting systems -- MyLED...," he said.
Alongside the product unveiling, a Light and Furnitureshow was also organised.