The company reported that LED-based sales grew 27 per cent in the first quarter compared to the first quarter in 2010 - representing 14 per cent of total lighting sales, lighting.co.uk reports.
Frans Van Houten, president and chief executive of Philips, said: "The lighting industry is undergoing an unprecedented transformation and we need to sustain our leadership position in the new world of LED lighting as well as capture adjacent value through local lighting solutions."
Ron Wirahadiraksa, the chief financial officer, added: "The continued global trend towards energy efficiency bodes well for the mid-term lighting market developments."
Meanwhile, Luminus Devices Inc has announced a global distribution agreement enabling Mouser Electronics Inc of Mansfield, Texas, to bring Luminus LEDs quickly and efficiently to lighting design engineers and buyers around the world.
The agreement should speed to market what are alleged to be the industry's only big-chip LEDs.
Posted by Simon Jones
