Cree said the good performance of the previous quarter mainly benefited from strong growth in LED lighting fixtures and bulbs needs. Company CEO said the company continues to benefit from the global shift to LED lighting and the continuing wave of innovation of their products.
Reported Cree lighting products on quarterly sales grew 42%, growth of 17%; LED bulbs for consumer sales doubling year on year. Cree CEO said the company expects to cut the suggested retail price of LED bulbs.
2014, the United States and Europe will gradually disable 40W-60W incandescent bulbs. This policy has resulted in LED lighting products have the opportunity to be more widely used. Meanwhile, the U.S. government is gradually increasing the intensity of the LED lighting support, through increased with the “Energy Star” certification of lighting products subsidies drive down the price of LED lamps.
Cree is the largest U.S. manufacturer of LED products, the production of lighting products with unique materials technology and advanced white light technology in a leading position in the global industry.