The global market for light-emitting diodes will grow about 40 percent this year, Greg Sebasky, chief executive officer of Philips North America, said today in an interview.
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, Sebasky said. That will help the energy- efficient technology make up about 50 percent of Philips’ lighting sales by 2015, up from 25 percent last year, he said.
“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.
LED Lighting to Grow 40% in 2013, Philips Executive Says