Electronics Production |
Philips to set up LED plant in Singapore
Philips Electronics has announced that the company will set up a factory for high power Light Emitting Diodes (LEDs) in Singapore that will employ 900 staff and double LED production capacity.
Philips, which declined to give financial details of the investment, currently produces high power LEDs only in its Lumileds business in the Bay Area near San Francisco.
Lumileds, which is increasing revenues by around 25 percent every year as the use of LEDs become more prevalent in car lights, traffic lights and street lamps, generated around $400 million of revenue in 2005 when Philips' acquired the 47 percent of Lumileds shares it did not already own from Agilent .
