Philips to set up hight power LED production facility in Singapore
Amsterdam – Royal Philips Electronics (NYSE:PHG, AEX:PHI) announced today it will invest in the setting up of a high power LED production facility in Singapore. Initial production is expected to start in Q1 2007, ramping up to double Philips’ total power LED production capacity by the end of 2007.
This investment is part of Philips Lighting’s strategy to strengthen its leadership position in the fast growing and rapidly emerging power LED market. The plant will be a high volume production facility for the LUXEON® range of LEDs, employing about 900 people at full capacity. The LEDs are used in city beautification lighting, LCD displays,camera flash for mobile phones, automotive applications and various other applications.
Theo van Deursen, CEO of Philips Lighting and member of Philips’ Board of Management, comments: “This investment will not only double the production capacity of our power LEDs in the next year and strengthen our number one position in this field, it will also significantly increase efficiency, supporting our aim for profitable growth.”
Philips Lighting is focusing on the power LED market, which has an expected annual
growth of 25% over the coming years. The long-lasting LUXEON® range of power
LEDs matches the brightness of conventional light sources and for the first time, makes
it possible to replace incandescent, halogen and fluorescent bulbs in many products with smaller, longer-lasting and more energy efficient LEDs.
Solid-state lighting is seen as the biggest revolution in lighting technology since Thomas Edison invented the incandescent bulb. Although it has been a niche solution for general lighting markets in the past, the creation of white-light LEDs a few years ago has transformed its potential. Over time, solid-state lighting is expected to revolutionize lighting in homes, cars, shops and cities.
About Royal Philips Electronics:
Royal Philips Electronics of the Netherlands (NYSE: PHG, AEX: PHI) is one of the world's biggest electronics companies and Europe's largest, with sales of EUR 30.4 billion in 2005. With activities in the three interlocking domains of healthcare, lifestyle and technology and 158,000 employees in more than 60 countries, it has market leadership positions in medical diagnostic imaging and patient monitoring, color television sets, electric shavers, lighting and silicon system solutions.
