Philips 2007 Annual Report Download - page 79

Philips Annual Report 2007 85
organizations and utilities). In 2007, sales of our Green
products rose further and now account for 48% of
Lighting sales.
Solid-state lighting
In 2007 we strengthened our position as the leader
in
solid-state lighting and are the only company covering
the whole value chain from LED components via modules
to luminaires and systems. Over the past few years we have
invested nearly EUR 4 billion in acquiring high-growth
businesses in the areas of solid-state lighting and luminaires.
This gure includes the sum of EUR 1.8 billion agreed
in November 2007 for the acquisition of Genlyte
Group Incorporated, a leading North American luminaire
manufacturer, which we completed on January 22, 2008.
Besides growing our presence in North America,
this transaction deepens our contacts to end-users,
such as wholesalers, contractors, architects and lighting
designers, helping us speed up the market roll-out
of more energy-efcient lighting and the introduction
of new lighting technologies, like solid-state lighting.
Early in 2007 we closed the acquisition of Partners
in Lighting International (PLI), the leading European
manufacturer of home luminaires. This acquisition
strengthens our presence in the home lighting market,
where solid-state lighting will bring major benets in terms
of creating atmospheres and reducing energy consumption.
Successfully integrated, PLI is now organized as a global
business in its own right and is running well ahead
of its business plan.
Next came our acquisition of TIR Systems, based
in Vancouver, Canada, a leading company in solid-state
lighting technology for products that generate high-
quality white light and a leader in SSL modules.
TIR has a sizeable intellectual property portfolio.
In September we completed the acquisition of Color
Kinetics, a recognized innovator and leading player
in the SSL luminaire business with a strong presence
in the USA and a broad technology and intellectual
property portfolio (controls and intelligent technology).
In this way we are building a strong position through
the complete SSL value chain for future growth in
energy-efcient lighting solutions using LED sources.
These acquisitions strengthen our technology base
and intellectual property position, and provide us with
a strong presence in all continents. At the same time
In the frozen food department of supermarkets,
the performance of LEDs in freezers is far superior to that
of the customary uorescent lamps in terms of light output,
energy efciency and lifetime.
98 Risk management 112 Our leadership 116 Report of the Supervisory Board 126 Financial Statements