Philips' Big Shift to LEDs

Philips (NYSE: PHG) has invested more than EUR 4 billion in its LED technology in an effort to retain it’s position as the world’s number one lighting producer, according to an in-depth Reuters report.

In 4Q09, LED products accounted for more than 10% of the company’s sales for the first time, and Philips expects LEDs to surpass conventional lighting around 2015. Over the same period, the company expects the global lighting market to grow by about EUR 30 billion.

Philips’ main competitors in LED are Siemens’ Osram (NYSE: SI), General Electric (NYSE: GE), Sharp (6753.T), Samsung (005930.KS), and Cree (Nasdaq: CREE).

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