With the strong demand, Royal Philips Electronics expected LED lighting revenues to reach 15% of its total lighting revenues for 2010 and over 20% in 4Q10. And in 2015, the company aimed to reach 50% of its total lighting revenues.

A leader of Philips Taiwan noted, the company’s LED lighting had a longer life than regular energy-saving light bulbs' 2-3 years, with 40,000 hours life, which made Philips take over the lighting market from traditional devices. And overall unit shipments for light-source products would decrease, but overall lighting industry value would increase through shipments of higher-value customized LED lighting products.

In the past few years, Philips had been developing the LED lighting market by conducting technology R&D and mergers, emphasizing patent value and raising brand recognition. Philips had got lighting equipment vendors PLI and Genlyte, as well as players in the automation control system sector.

It’s reported that high brightness LED use would increase at a CAGR of 28.6% from 2009-2013, with a CAGR of 62.6% for large-size display backlighting and 97.4% for LED lighting. Though Philips LED lighting had a high share in the company’s overall lighting revenues, the company would continue to boost LEDs' share of the total lighting revenues to 50% in 2015 and 75% in 2020.