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China to hit Speed-Bump

China to hit Speed-Bump

It is feared that the Chinese LED lighting industry is set to hit a speed bump later this year due to weak exports and over investments.

The statistics are believed to be that a staggering 1 out of 5 companies are to fail due to oversupplying and falling prices, which Beijing spent a fortune in trying to build an energy-efficient future.

However, this isn’t the first time in which Beijing has been hit, it was previously hit with the same issue which caused their Solar panel and wind turbine champions to be dragged down. Now China, the world’s largest LED Lighting region is too suffer the same shake up.

 "Everyone is making LEDs these days. The industry is a mess," Winson Wu, Chairman of LED maker MOD lighting, said in an interview.

There is approximately 4,000 companies in China which are producing LED’s, but with all the competition it has caused the prices to decrease, causing financial issues for many companies which are no longer breaking even.