Philips Lighting ramps up China R&D spending

Philips Lighting Holding BV, a Royal Philips company, will further accelerate its research and development pace in China to compete with other established rivals over the next five years, a top executive said.

As both domestic and global manufacturers including NVC Lighting, Opple Lighting Co Ltd and GE's light-bulb division push their latest LED and smart lighting products into the world's largest lighting market by revenue, the Dutch company is deploying more than 30 percent of its research and development force in China to improve innovation.

Olivia Qiu, chief innovation officer of Philips Lighting, said fast innovation is the key to compete with others as the Chinese market is extremely sensitive to new products, especially those with more functions.