Light bulbs using a new kind of LED (light-emitting diode) technology will become cheaper than conventional fluorescent lighting, the Hong Kong Economic Journal reported Monday, citing James Wong, managing director of Cledos International Ltd.
Cledos makes LED lighting using so-called airLED technology that saves 20 to 30 percent more energy than ordinary LED bulbs and can last up to 10 years, Wong said.
The bulbs cost HK$40 (US$5.16) to HK$50 apiece, he said.
The technology is backed by Silicon Valley investors, the report said.
Cledos was founded in 2013 by Lau Kei-may, chair professor of electronics and computer engineering and principal investigator of Photonics Technology Center at the Hong Kong University of Science and Technology, and telecommunications expert Wong Chee-hong.
Cledos is considering a listing or equity sale to Chinney Alliance Group Ltd. (00385.HK) of which James Wong is a director, the report said.
The company plans to ship airLED bulbs to North America for trial sales this quarter and next quarter in Europe.
It is aiming to produce two million units each month next year from 1.2 million units this year under an original equipment manufacturing contract.
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