According to Reuters, the European Union sees LEDs as an important part of its strategy to cut carbon emissions, since they use up to 80 per cent less energy than many older bulbs.
The news provider pointed out there is set to be a total ban on incandescent lights in 2012, which will leave about 16 billion obsolete light fixtures needing to be replaced for environmentally friendly alternatives.
Jan Hein de Vroe, technology analyst at ING told the newswire: "Philips is trying to ride this curve and, in our view, has all the right ingredients in place if the industry were indeed to move in this direction."
This week, LED manufacturer Osram Opto Semiconductors launched a website that aims to offer consumers a comprehensive online resource regarding LEDs.
