With the rapid development of LED lighting technology, its energy conservation and emission reduction effects are obvious. Its cost has rapidly declined, penetration rate has continuously increased, and the corresponding market size is gradually expanding. According to the latest research report "2019 Lighting-Grade Packaging and LED Lighting Market Outlook" by LEDinside, a division of TrendForce, the LED lighting market size is expected to gradually increase from 2018 to 2023, with the LED lighting market size projected to reach US$56.6 billion in 2023, representing a CAGR of 9% from 2018 to 2023.

Despite the expanding market size of the lighting industry, it is well-known that the lighting market has become a "bloody red ocean" with increasingly fierce market competition. The "price war" among various lighting companies has entered a fierce stage, profits are becoming increasingly thin, and many LED lighting companies are lamenting that "times are tough."

Facing intensified competition in the domestic market and shrinking profit margins, lighting companies have turned their attention to overseas markets, hoping to "go global" and seek new opportunities and markets for their development.

The traditional modes of entering the international market are divided into export entry mode, contract entry mode, and investment entry mode. In the past, Chinese lighting companies relied more on the export mode to go global, but in recent years, the investment entry mode has gradually become a new trend. How will Chinese lighting companies go global in 2019?

LEDinside has specially selected five representative Chinese lighting companies: Yankon Lighting, NVC Lighting, Opple Lighting, FSL Lighting, and MLS to review their internationalization strategies one by one, analyze their going-global strategies, and provide references for companies that aspire to expand internationally.

Yankon Lighting: Leveraging External Resources to Expand Overseas (or "Borrowing a Boat to Sail Out to Sea")