According to Korean media reports, Mulinsen recently started selling lighting products in South Korea. As the first Chinese supplier to break into the top ten of global LED packaging, some research institutions predict that Mulinsen is expected to surpass Japan's Nichia, currently ranked number one in the industry, within a few years if it develops at its current pace.
Mu Linsen once ranked among the world's top ten LED packaging company suppliers in 2013 published by foreign research institutions, representing a Chinese company that broke into the top ten for the first time. In the latest "2014 China Packaging Industry Market Report" published by LEDinside in October, Mulinsen Packaging's ranking quickly climbed to fourth.
LED packaging products account for about 87% of Mulinsen's overall product revenue, most of which are used for lighting. Currently, Mulinsen's LED packaging output ranks first in the world. Mulinsen's monthly production capacity of LED components exceeded 20 billion units in 2014, and it continues to expand production at a rate of more than 1 billion units each month. It is expected that its monthly production capacity will reach 30 billion units in 2015. Lin Jiliang, general manager of Mulinsen, said that Mulinsen is the fastest growing company among the top ten LED packaging factories in the world.
Entering the lighting era, Mulinsen realized that the cost ratio of light sources to overall lighting fixtures was decreasing, while structural costs and driving costs accounted for an increasingly high proportion. Therefore, he began to make plans a few years ago to independently produce LED lighting-related hardware, plastics, drivers, etc. Currently, Mulinsen's monthly production capacity of LED lighting tubes and bulbs exceeds 15 million pieces, and continues to increase.
Mulinsen's biggest competitive advantage lies in reducing manufacturing costs through mass production. And it uses the advantage of large-volume LED packaging to reduce the purchase price of LED chips. In 2012, the company sold LED light bulbs for the first time at an ultra-low price of $1, and quickly occupied the market and was known as the price butcher. But then, it is supported by Mulinsen's leading technologies in the fields of production automation, high efficiency and material technology integration.
Industry insiders have observed that Mulinsen is expected to become the first domestic enterprise with a scale exceeding 10 billion yuan. Although its current sales scale is not as good as that of Nichia and other companies, unlike other major manufacturers that adopt the OEM model, Mulinsen is independently developed and produced, and its production capacity is already among the top in the world.
With the vision of building a global manufacturing base for LED light sources, Mulinsen has strengthened the construction of foreign channels. In 2014, it focused on expanding channels in the North American market. In addition, it has launched large-scale investment promotion and channel construction in hot-selling LED lighting markets such as South Korea, Thailand, the Philippines, Taiwan, Dubai, Turkey, India, Russia, and Europe. It has attacked internally and externally and achieved multi-faceted sales results.
Industry insiders said that before Mulinsen became the world's LED upstart, it had already established its leading position in the Chinese market by taking advantage of strong domestic demand. For major suppliers, the rise of Mulinsen sends a clear signal that Chinese companies will soon become major competitors in the global LED business.
ANNA