Through R&D and investments in product innovations there has been a marked improvement in the energy efficiency of lighting products over the past 15 years. Philips estimates that if today’s installed global base of lighting products were replaced by energy efficient alternatives, it would result each year in approximately EUR 50 billion of savings in electricity costs and approximately 270 million fewer tons of CO2 emissions, equalling just over 1 billion fewer barrels of oil consumed or the equivalent CO2 consumption of nearly 14 billion trees.
Mr. Theo van Deursen, CEO of Philips Lighting: “Asia represents a promising lighting market for Philips. Between 2000 and 2005, Philips’ Lighting sales in Asia grew on average 15% per year, mirroring solid growth in other emerging markets. This steady growth in demand highlights the importance of coming out with energy efficient lighting solutions.”
Emerging technologies such as solid-state lighting to shape future market At the meeting, Philips will also discuss how emerging technologies, such as energy efficient light emitting diodes (LEDs), have significant untapped potential for meeting future lighting needs. For example, Lumileds, the solid state lighting business Philips bought out from Agilent last year, is already further fuelling growth at Philips Lighting: “Over the past three years, Lumileds has grown at an average annual rate of 24%. Clearly, this trend – along with robust demand from emerging markets – is helping keep us well on track to meeting a long-term annual sales growth rate in Lighting of 6%,” Mr. van Deursen said.
