Third quarter results from Philips show comparable sales growth of 5% to €6.1 billion. The star performer seems to be LED lighting. Philips lighting business showed 4% comparable growth. LED based sales however were up by a full 51% compared to Q3 2011 and now account for 24% of total lighting sales.
Jeff Warren / CC BY-SA 2.0
Frans van Houten, CEO of Royal Philips Electronics commented, “In Lighting, LED-based sales continued to show strong momentum with comparable sales growth over 50%, which requires us to accelerate the rationalization of our conventional lighting industrial footprint.”
Philips have been a champion of LED lighting and the development of cutting edge LED technology for a number of years now. Developments have included their L Prize winning 60W LED bulb. As well as a wide range of LED lighting fixtures, Philips manufactures high quality, low energy bulb replacements in all shapes and sizes.
Interestingly, Philips’ Q3 Quarterly Report mentions its status as a supersector leader in the 2012 Dow Jones Sustainability Index and states it’s leadership in sustainability as “an integral part of the company’s health and well-being strategy.”
Philips commitment to the development of LED lighting seems to be paying off.