Probably best known as a vendor of data storage technology which it has been involved in since 1969, Verbatim is now betting its hopes on a future of LED lamps based on core technologies from Mitsubishi Chemical Corporation (MCC).
Having introduced its first range of LED retrofit lamps in September 2010, the company has subsequently enlarged its LED product portfolio. Today, Verbatim's professional range comprises of over 50 products targeting lighting design specialists, architects and facility managers. A further 25 products, designed for household use, are aimed at general consumers available through electrical, home improvement and online stores.
Verbatim is a subsidiary of Mitsubishi Chemicals, Japan’s largest chemical company and one of the world’s leading manufacturers in raw materials for LEDs. Verbatim has already benefited from pre-established distribution channels being developed in B2B and B2C markets as a result of existing products the company sells.
The company now expects that 2013 will shine very brightly for the LED lamp bringing the company plenty of opportunities for growth. Due to the EU ban on manufacture and import of incandescent bulbs, Verbatim expects demand for LED lamps to dramatically increase this year. The LED penetration in the European lighting market in 2012 was 15%, which equates to a value of €2.3 Billion. McKinsey research predicts by 2020, 60% of all lamps and 62% of all fixtures in private households will be based on LED technology, a market worth €8.4 billion. The total LED market in Europe is expected to grow to €17 billion by 2020.
Courtesy of unique phosphor and LED technology developed by MCC, Verbatim announced to soon showcase a major advance in LED lighting. Based on VxRGB technology to be demonstrated at Euroluce (Milan, 9-14 April 2013), the company plans to unveil a new series of MR16 lamps with very high colour accuracy.
Other products are also in the pipeline. Verbatim recently revealed that Mitsubishi Chemicals has partnered with Seoul