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LED Lighting to Grow 40% in 2013, Philips Executive Says

Royal Philips Electronics NV LED business will grow about 40 percent this year, Greg Sebasky, chief executive officer of it North America unit, 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. - LED Lighting to Grow 40% in 2013