Executive Summary:
Philips, which makes 1 in 4 of the world's lighting fixtures, is banking a large part of its financial future on the production and sales of LED lights. LED lights currently make up less than 10% of lighting sales in Europe.
The LED is more expensive than the incandescent light bulb, but is expected to be less expensive than the compact fluorescent by 2013.
LEDs have a long life, are energy efficient, and do not contain mercury like the compact fluorescent. However, the quality of light produced by a less expensive LED is described as "cold", while "warm" LED light is twice as costly.
Phillips will not realize its LED sales goals unless the EU and other governing bodies continue with their plans to ban the incandescent light bulb. Europe is on track to ban it in 2012.
Opinion:
The incandescent light bulb is going to be banned by our government. Stop laughing. Seriously. I think the US ban takes effect in 2014. I do think Congress will have no choice but to delay it. And then delay it again. And again. (Like the DTV transition.) But like DTV, it probably will get implemented someday. When it does, I hope I have a closetful of incandescent light bulbs. I hate those compact fluorescent bulbs---they make everything look jaundiced. I challenge anyone to tell me how this is a necessary function of government. And if LEDs are that great, the market will ensure they will be implemented eventually, so why does the government need to step in at all?