Philips LEDs prices will drop

According to a new statement of Philips Lighting executive in the U.S, the cost of efficient yet pricey LED light bulbs could fall by 50 percent in the next five years.

Also the company hopes to obtain from its projects, 50 percent of its sales from LED lighting by 2015.

Philips Lighting is rapidly pushing into LEDs for both commercial and residential lighting.

It seems that Philips projects would grow to 75 percent by 2020, a rate that’s higher than the rest of the lighting industry.

Philips has acquired a few companies, including Color Kinetics and Lumileds to develop its market and by the end of this year EnduraLED A21 bulb, designed to replace a 75-watt incandescent bulb, will be available for a price between $40 and $45.

The EnduraLED A21, which consumes 17 watts, offers energy savings and is projected to last 25,000 hours, or 25 times longer than an incandescent bulb.

The LED price will fall because residential LED bulbs are still relatively new.

“Take a look at what happened in commercial areas where the prices for outdoor LED lighting fell by 50 percent. If you asked me would those types of savings be a reasonable projection for (all LED lighting) over the next five years, my answer would immediately be ‘Yes,'” Philips Lighting CEO, Zia Eftekhar said.

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Posted by on May 18 2011. Filed under _featured slider, Analysis & Features, BUSINESS, Energy Market, INDUSTRY, MARKETING, Technology, USA, WORLD. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

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