METAL BULLETIN posted the following article on 28 Oct, 2013
Electronics company Philips and LED and lighting company Cree reported surging sales in their LED-based lighting products for the last quarter, improving hopes for a positive outlook for gallium demand over the coming years.
LED-based sales grew by 33% compared with the previous year, leading to an overall growth in lighting sales of 3%, Philips said in its quarter three financial results. “Across geographies, the lighting market in Q3 2013 was driven by the increased adoption of LED-based lighting and remains on track for low-single digit growth in 2013,” Philips said. Philips predicted that LED’s will represent 45-50% of the market by 2016, as inefficient technologies are phased out.
Cree reported an increase in revenue driven by higher LED sales and is targeting second quarter revenue to grow to $400-420 million due to strong lighting sales driven by LED bulbs and fixtures. Both companies reported a pickup in sales for their consumer-targeted LED light bulbs. Half of the world’s total annual gallium consumption is used by the LED industry and a pickup in LED…
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Story Source: The above story was Published by Metal Bulletin on 28 Oct’2013, Click here to view the original article.