*General Lighting market is projected to have annual 9.5% growth until 2020, while automotive lighting is to grow at 4% per year.   German lighting manufacturer Osram is confident that its large investors will support its new strategy of investing in general LED lighting market, reported Reuters.

At an analyst day, Osram unveiled further details of its three-pillar strategy presented in November last year and of the innovation and growth initiative. In all its three pillars, the lighting company wants to benefit even more from the potential of semiconductor-based technologies and will make appropriate investments in the coming years. In the Specialty Lighting (SP) business, Osram is increasing the focus of its automotive business on LED-based products and the system business as well as investments in new technologies such as laser and OLED. In the Lighting Solutions & Systems (LSS) segment, Osram will expand its product portfolio for Smart Cities and Smart Buildings applications in the years to come, thus taking account of rising urbanization. In the LED components business (Opto Semiconductors, OS), Osram aims to become the cost leader thanks to its lead in technology, economies of scale, and factor cost benefits from the planned 6-inch LED chip plant in Kulim, Malaysia. The plant will be the largest of its kind. “We are well on our way to becoming a high-tech company. With our innovation and growth initiative we are shifting the focus to sustainable growth,” said Olaf Berlien, Chief Executive Officer of OSRAM Licht AG.