Looking back at the first three months of this year, lighting giant Philips has recorded earning results that show a 38 per cent boost in LED sales for the period when compared to the first quarter of last year.
The energy-efficient bulbs now comprise 23 per cent of all lighting sales for the firm, which turned over net income of €162 million (£139 million).
Interestingly, other sectors of the company's business remained somewhat stagnant. The only other area which showed a significant improvement was appliance sales. 'Comparable lifestyle' unit results improved by ten per cent, with double-digit growth from domestic appliances, high single-digit growth from personal care and mid-single-digit growth within health and wellness areas of the business.
Frans van Houten, chief executive of the firm, commented on the results as a whole: "We reiterate our view of a slow first half to 2013, due to adverse market trends, especially in Europe and the US." However, statistics concerning LED sales suggest that there is no such 'adverse market trend' blighting this industry.
Quite the opposite in fact - sales of LEDs the world over continue to improve, as more and more people recognise the benefits of the energy-efficient lighting solution. Data presented at the Strategies in Light Conference in Santa Clara, California earlier this year suggested that the overall LED market is now worth around $13.7 billion - and this value shows no sign of plateauing any time soon as more money is invested in research, developing and marketing the technology.
As a result of this continued investment in LEDs, Philips has now developed the world's most energy-efficient LED tube replacement bulb to be used in general lighting applications. The prototype is said to be able to produce 200 lumens per watt of white light, making it twice as efficient as any predecessors.
