Philips projects global market for LED to grow 40% in 2013
2013-03-05
The global market for LED is expected to grow about 40% in 2013, noted Greg Sebasky, chief executive officer of Philips North America.
According to him, the company sees a “growth tipping point” with the debut this year of its 60-watt equivalent LED light bulb that will retail for about $10. That will help the energy- efficient technology make up about 50 percent of Philips’ lighting sales by 2015, up from 25 percent last year.
“People are starting to see lighting as a durable good,” Sebasky said, taking lighting products with them when they move. The company is making controllable, LED-driven lighting products that the company expects can save the average homeowner about $250 in electricity costs each year.
The unit of Koninklijke Philips Electronics NV (PHIA) generates about $9 billion in annual sales in the U.S., Canada and Mexico.
According to him, the company sees a “growth tipping point” with the debut this year of its 60-watt equivalent LED light bulb that will retail for about $10. That will help the energy- efficient technology make up about 50 percent of Philips’ lighting sales by 2015, up from 25 percent last year.
“People are starting to see lighting as a durable good,” Sebasky said, taking lighting products with them when they move. The company is making controllable, LED-driven lighting products that the company expects can save the average homeowner about $250 in electricity costs each year.
The unit of Koninklijke Philips Electronics NV (PHIA) generates about $9 billion in annual sales in the U.S., Canada and Mexico.