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LED lighting ASPs are likely to decrease rapidly. The price of high power LEDs has been falling close to 50% in 2010-2011. The price is likely to fall another 5-10% in the third quarter. There are currently 10 LED lighting brands in the Taiwan market, and another 3-5 brands will launch in the second half of 2011. The price of 6W LED light bulbs to replace a traditional 40W lights introduced by Everlight will decrease to $11-13.71. Price competition has been fierce in North America with LG introducing two 7.5W LED light bulbs that only cost $20. Industry watchers estimate demand for LED lighting chips will show a 68% CAGR in the next five years.