Survival Test Amid Price Hikes: What Mynice Did Right — An Interview with Chen Lin, Chairman of the Board

In 2026, the LED industry is experiencing an unprecedented round of widespread price adjustments.

Since late 2025, nearly a hundred enterprises across the whole industrial chain have adjusted prices in tandem, covering chips, packaging, power supplies, ICs, display panels and other segments, with overall price increases ranging from 3% to 30%. The sharp surge in precious metal prices serves as a key trigger. Meanwhile, the explosive growth of large AI models has pushed the global semiconductor industry into an “AI-first” era. Wafer foundry costs for LED driver chips have risen by 15% to 25% year-on-year.

“The decade-long cycle of falling LED prices has come to an end. The industry is accelerating its shift toward high-value sectors to break through bottlenecks,” industry insiders commented.

Beyond price hikes lies starker K-shaped divergence within the sector. Traditional general lighting at the lower end is trapped in fierce stock-market competition, while high-end customization and high-value overseas markets at the top end have become the focus for technological breakthroughs.

How should enterprises navigate amid this storm? With this question, we held an in-depth discussion with Chen Lin, Chairman of Shenzhen Mynice Optoelectronics Co., Ltd.

Pressure from Both Ends and the “Three-Tier Cost Absorption Method”

As a midstream manufacturer, Mynice faces the same tough situation as its peers: it must absorb price increases from upstream components while carefully managing price pressure from downstream customers.

Faced with across-the-board price hikes for chips, precious metals and PCBs, Mr. Chen has adopted a three-tier strategy to internally absorb rising costs.

The first tier is proactive supply chain planning. “We sign long-term price-locked contracts with upstream suppliers in advance and build strategic stockpiles of core materials such as driver ICs and LED beads.” Locking in prices and supply of key materials before price surges hit forms Mynice’s first line of defense against cost volatility.

The second tier lies in manufacturing-side cost optimization. “We leverage automated production lines and large-scale capacity at multiple overseas bases to spread manufacturing overhead. In-house developed power supply and optical solutions also optimize material structures and cut precious metal consumption.”

The third and most critical tier is the active upgrading of the product portfolio. “We increase the proportion of high-end integrated solutions and use high-margin products to offset cost pressures from low-end lines.” Rather than passively bearing price increases, Mynice proactively adjusts its product mix and directs resources toward high-value-added segments.

When communicating with downstream customers, Mynice adheres to the principle of “transparent advance notification”. “We share upstream price increase data ahead of time and offer a 1–2 month buffer period for price adjustments. Existing confirmed orders are honored at the original price. Instead of simply raising prices, we provide lighting optimization and integrated supporting solutions to lower customers’ overall procurement costs.” Mr. Chen emphasized that Mynice’s full set of certifications and the comprehensive value of local delivery worldwide help customers understand the rationale behind price revisions, supporting long-term stable partnerships.

This approach reflects the company’s clear judgment on industry shifts. According to industry observers, this round of price hikes is not a simple pass-through of costs. It is an inevitable choice for the sector to restore profitability and break free from the vicious cycle of “trading price for volume”.

During industry reshuffling, “retaining customers” carries greater long-term value than “chasing short-term profits from price increases”.

Two Decades of Focus: Why Signage Lighting and Linear Light Strips?

The price surge is a short-term test. Mynice’s ability to respond calmly is rooted in the strategic depth built over two decades.

Back in 2006, while most LED companies crowded into general lighting, Mynice chose two relatively niche tracks at that time: signage lighting and linear light strips. Recalling the original decision, Mr. Chen said: “We picked signage and linear lighting as our core tracks because we foresaw that general lighting would eventually fall into homogenized price wars. Commercial brand storefronts and ambient accent lighting for spaces represent lasting rigid demand, with ample room for technical iteration and customization — well worth deep cultivation.”

Twenty years later, the value of this vision has become increasingly prominent. Starting from signage lighting and linear light strips, Mynice has gradually expanded into two more business segments: special lighting and power control systems, forming a complete ecosystem with four coordinated business lines.

“Signage and linear lighting serve as our primary front-end light sources. Special lighting covers explosion-proof lights, mine safety lights, gas station eave lights, freezer lights, pool lights and shelf lights. Our self-developed power control systems guarantee overall lighting stability. The four business lines share R&D resources, supply chains and overseas manufacturing bases. This not only enables us to deliver one-stop lighting solutions for customers, but also builds technical barriers hard for competitors to replicate.”

In terms of revenue structure, signage lighting and linear light strips together contribute nearly 70% of Mynice’s revenue, forming its stable foundation. Special lighting accounts for around 20%, and self-developed power control systems make up approximately 10%. Each business segment follows a distinct growth trajectory: signage lighting maintains steady growth of 6%–8% driven by chain stores and urban renewal projects; linear light strips register the fastest growth, rising over 12% annually fueled by domestic and overseas commercial fit-outs and no-main-light lighting demand; special lighting sees steady volume growth from mine safety and explosion-proof projects; revenue from power control systems rises alongside the sales of complete lighting solutions.

According to Mr. Chen, in the long run, signage lighting and linear lighting remain Mynice’s core advantageous tracks. Special lighting and power control systems are continuously strengthened as segments that reinforce industrial barriers. The four segments operate and develop in synergy, jointly forming Mynice’s main business ecosystem and building the brand’s core competitiveness.

Underpinning the coordinated operation of the four business lines is a professional team of more than 800 members, among whom R&D and technical personnel account for over 10%, covering optics, driver power supplies, intelligent control, structural explosion-proof design and other disciplines. To attract young engineers to commit to this niche sector, Mynice offers cutting-edge R&D projects, a clear career promotion path and cross-regional training opportunities. Young talents “can turn their innovative proposals into real applications, recognize the value of their technology and see clear room for growth — and that naturally makes them willing to stay and develop long-term.”

A Globalization Roadmap: Technology Centered Domestically, Markets Expanded Overseas

Mynice boasts a distinctive global layout. The company builds its technology hub for R&D and quality control in Shenzhen, while establishing overseas intelligent manufacturing bases in Myanmar, Cambodia, Egypt and other regions. Overseas revenue accounts for approximately 70% of total turnover.

“Two key judgments drove us to set up overseas factories instead of merely engaging in foreign trade,” Mr. Chen recalled. “First, tariffs and logistics costs for cross-border trade kept rising, squeezing profits from purely domestic shipments. Localized production helps bypass trade barriers and shorten lead times. Second, overseas chain brands and engineering clients prioritize local delivery and after-sales support.”

When selecting locations, Mynice prioritized Cambodia, Myanmar and Egypt instead of popular destinations such as Vietnam and India. “Vietnam faces rising labor and land costs alongside strict rules of origin audits. India suffers from weak industrial supporting chains and unstable delivery. Mexico imposes high tariffs on Chinese components, making the overall cost unattractive.”

Today, Mynice has formed a clear division of labor across its global footprint. The Shenzhen headquarters takes charge of R&D and technical standards, while overseas bases handle mass production and local delivery. Specifically, the Shenzhen headquarters manages R&D, optical quality control and the development of core power chips, and supplies drawings, standards and key components. Myanmar and Cambodia mainly produce signage and linear light strips for European, American and Asia-Pacific markets, leveraging tariff benefits under free trade agreements to avoid targeted trade barriers against China. The Egypt plant focuses on special lighting and power supplies, serving the Middle East, Africa and the EU.

To sum up: “Shenzhen controls technical standards, and overseas sites provide local mass supply. This mitigates trade barriers while balancing cost and global response speed.”

Such multi-base capacity allocation enables Mynice to optimize production factor deployment across regions and partially offset the impact of raw material price fluctuations. Its Southeast Asian factories have evolved from low-cost contract manufacturing sites into agile response nodes within the global supply chain.

This global setup has also won recognition from international industry leaders. According to Mr. Chen, low pricing is never the key to winning high-end clients. “Comprehensive end-to-end capabilities are what convince global giants. First, full sets of global compliance certifications including UL, CE and FCC are the entry ticket. Second, our Shenzhen R&D center can rapidly develop non-standard customized optical and power solutions to meet differentiated lighting requirements for brands. Supported by manufacturing bases across multiple countries, we can allocate production capacity close to customers’ regions to guarantee stable bulk delivery. Compliance certifications lay the foundation, customized R&D serves as the core, and global delivery provides reliable backup. The combination of these three pillars is how we maintain long-term partnerships with major international clients.”

In fact, through cooperation with global giants such as BP and Shell, Mynice has upgraded from “Made in China” to “Created in China”. Its products are sold in more than 100 countries and regions worldwide. It also partners with well-known enterprises including Sinopec, PetroChina, Osram, LG and Samsung.

Twenty years of focused dedication plus forward-looking global deployment have built a unique competitive advantage for Mynice: vertical integration. Amid widespread overcapacity in the LED industry, Mynice independently masters core optical and driver technologies. Patented products such as AGCT micro-lenses and engineering-grade waterproof lighting free it from price wars, and high-end customization plus full-package delivery preserve profit margins. Evolving from a simple luminaire supplier into a one-stop lighting solution provider is the fundamental path for Mynice to build its differentiated moat.