Why Are LED Companies Dropping Like Flies?
Major producers of LED Lighting Products unable to turn a profit
March 18th 2014 – San Jose, CA: It was a bit of a shock to hear the week before last that Toshiba had made a decision to cease production of LED Lighting Products (most specifically lamps), stating that they were unable to make a profit given the decline in consumer price levels on LED Light Bulbs. The Vice President of Toshiba stated in a letter dated March 10th, 2014 that Toshiba was struggling to compete against major brands such as Philips, CREE, and Sylvania.
Today came the official announcement that another producer of high quality LED Light Bulbs; Switch Lighting Co. known for their omni-directional A19 Lamp that has received over a dozen awards including named as TIME Magazine’s “The 50 Best Inventions”, and most recently the 2014 CES Innovation Award, will be closing the doors for good.
Other companies such as Evolucia Inc. (OTCBB & OTCQB: ILED) have struggled to maintain a stock value for their investors falling another 11% to .0056 per share. Evolucia, Inc. according to their website engages in the design, manufacture, marketing, and distribution of light emitting diode (LED) lighting fixtures in North America and internationally and is headquartered in Sarasota, Florida.
Based on the latest announcements from these companies, it leaves one wondering how long the LED Lighting Industry has until a major shakedown occurs. It also leaves questions for consumers to wonder if the LED Product warranty offered by any manufacturer is worth more than the box for which it is packaged.
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