DURHAM, N.C., JANUARY 28, 2008 – Cree, Inc. (Nasdaq: CREE), a market leader in LED solid-state lighting components, announces the results of an independent survey on the adoption, deployment and benefits of LED lighting. The survey, taken at the recent 2007 Hong Kong International Lighting Fair, validates strong global growth for LED lighting applications, confirms awareness of the energy-efficiency benefits of LEDs and indicates that the adoption trend should continue through the end of the decade.
Key survey findings include:
* Nearly three-quarters (72 percent) of respondents have witnessed a growth rate in excess of 20 percent for LED lighting applications in their businesses over the past six months.
* Almost two-thirds of respondents (63 percent) believe LED lighting will comprise more than 50 percent of their sales or installations by 2009.
* Future growth in the LED lighting market is expected to come from a mix of applications – with street/parking (20 percent), residential indoor (17 percent), retail/display (17 percent) and office (15 percent) cited as the leading opportunities.
Survey respondents represent top decision-makers at lighting manufacturers who attended the 2007 Hong Kong International Lighting Fair – the largest lighting show in Asia and the second largest in the world. Nearly half the respondents to this survey were from outside of Asia, reflecting the survey’s global reach.
“The survey results present us with a clear and positive picture of growth patterns and expectations from leaders in fixture design and manufacturing,” said Greg Merritt, director of corporate marketing, Cree. “The survey shows an increasing demand for the high-quality, energy-efficient LEDs that Cree currently provides and is continuing to develop.”
“The general illumination market is at a tipping point,” Merritt said. “Cree’s industry-leading XLampÒ family of high-performance cool- and warm-white LEDs is uniquely positioned to serve the needs of lighting manufacturers who are ready to capitalize on this growth.”
About Cree, Inc.
Cree is a market-leading innovator and manufacturer of semiconductors and devices that enhance the value of solid-state lighting, power and communications products by significantly increasing their energy performance and efficiency. Key to Cree’s market advantage is its world-class materials expertise in silicon carbide (SiC) and gallium nitride (GaN) for chips and packaged devices that can handle more power in a smaller space while producing less heat than other available technologies, materials and products.
Cree drives its increased performance technology into multiple applications, including exciting alternatives in brighter and more-tunable light for general illumination, backlighting for more-vivid displays, optimized power management for high-current, switch-mode power supplies and variable-speed motors, and more-effective wireless infrastructure for data and voice communications. Cree customers range from innovative lighting-fixture makers to defense-related federal agencies.
Cree’s product families include blue and green LED chips, lighting LEDs, LEDs for backlighting, power-switching devices and radio-frequency/wireless devices. For additional product specifications please refer to www.cree.com.
This press release contains forward-looking statements involving risks and uncertainties, both known and unknown, that may cause actual results to differ materially from those indicated. Actual results may differ materially due to a number of factors, such as risks inherent in conducting opinion surveys; customer acceptance of LED products; the rapid development of new technology and competing products that may impair demand or render Cree’s products obsolete; the risk we may encounter delays or other difficulties in developing and commercially releasing new products; and other factors discussed in Cree’s filings with the Securities and Exchange Commission, including its report on Form 10-K for the year ended June 24, 2007, and subsequent filings.