PHILPS optimistic about LED lighting equipment market

PHILPS electronics recently predicted that the next three years, the global market size of LED lighting equipment will grow at an annual rate of more than 30%. By 2010, the size of the market will grow from about 700 million euros in 2007 to Euro 1 billion 500 million. LED, that is, light-emitting diode, is the use of solid semiconductor chips as light-emitting materials, energy saving, pollution-free, long life and other characteristics. PHILPS recently completed a merger of Lumileds, TIR, Color Kinetics, Partners and Lighting and Genlyte and other related companies in order to achieve the entire solid-state lighting industry value chain coverage. The company also provides the world's first full use of LED lighting solutions for offices located in Paris Champs Elysees Street Generali insurance company.

Source: Economic Information Daily