Philips Named to MIT Technology Review's 2013 50 Disruptive Companies List
Recognizing World's Most Innovative Companies
CAMBRIDGE, Mass., Feb. 20, 2013
CAMBRIDGE, Mass., Feb. 20, 2013 /PRNewswire/ -- Philips, the leader in LED
lighting technologies has been identified in the field of Energy and Materials
as one of 2013's 50 Disruptive Companies, MIT Technology Review's annual list
of the world's most innovative technology companies. Over the last year,
Philips has worked to drive down the cost of LED light bulbs by introducing 88
ENERGY STAR qualified LED bulbs that allow these products to qualify for
utility rebates and lower the cost to consumers, including equivalents for 60,
75 and 100-watt incandescent bulbs. The company has also introduced
disruptive lighting technologies such as the award-winning L Prize bulb and
Philips hue, the world's smartest light bulb which can be managed from iPhone
or Android devices.
The honorees are nominated by MIT Technology Review's editors, who look for
companies that have demonstrated original and valuable technology over the
last year, are bringing that technology to market at significant scale, and
are clearly influencing their competitors. Spanning energy and materials,
Internet and digital media, computing and communications, biomedicine, and
transportation, the companies on the list represent the disruptive innovations
most likely to change our lives.
Jason Pontin, publisher and editor in chief of MIT Technology Review, states,
"The pace at which technology changes is astounding. This issue celebrates
organizations at the forefront, displaying 'disruptive innovation' that will
prove to surpass the competition, transform an industry, and change our lives.
Philips is making efficient LED light bulbs more affordable and one new bulb
can even be controlled by phones and tablets."
LED light bulbs use up to 85 percent less energy than traditional bulbs while
lasting up to 25 times longer. In addition to offering familiar soft white
light, the Philips LED bulbs fit into existing fixtures and work with standard
dimmers, giving consumers a simple, long-lasting solution for the home.
Philips offers a comprehensive portfolio of LED bulbs in the industry,
including 25 and 40-watt equivalents, as well as ENERGY STAR-qualified 60 and
75-watt LED equivalents. Moreover, the Philips hue bulb takes energy
efficiency to the next level, offering consumers the ability to manage their
lighting remotely, as well as allowing the light bulbs to do a broad range of
colors, including tunable white while using just 8-watts of power at peak
"From our Philips Lumileds division which is making breakthroughs in the
development of LEDs, to our partnerships with utility companies, we continue
to push the boundaries of LED innovation to ensure that consumers do not have
to sacrifice light quality, while having an affordable way to reduce their
energy bills," said Rene van Schooten, CEO Light Sources & Electronics at
Philips Lighting. "LED is a disruptive technology that has the capability to
redefine how we interact with lighting and we will continue to develop new
ways to harness its potential."
As lighting and technology converge, Philips continues to explore new ways to
bring value to the commercial market as well. In recent years, the company
has helped the city of Boston to save money and reduce its environmental
footprint through LED street lighting, as well as the re-lighting of the Zakim
Bridge. Moreover, Philips developed the new LED lighting system for the
iconic Empire State Building, helping it to re-define the New York skyline.
Philips and the other honorees will be featured in the March/April edition of
MIT Technology Review, available on newsstands worldwide March 5th and online
at technologyreview.com on February 20.
About Royal Philips Electronics
Royal Philips Electronics (NYSE: PHG, AEX: PHIA) is a diversified health and
well-being company, focused on improving people's lives through meaningful
innovation in the areas of Healthcare, Consumer Lifestyle and Lighting.
Headquartered in the Netherlands, Philips posted 2012 sales of EUR 24.8
billion and employs approximately 118,000 employees with sales and services in
more than 100 countries. The company is a leader in cardiac care, acute care
and home healthcare, energy efficient lighting solutions and new lighting
applications, as well as male shaving and grooming, home and portable
entertainment and oral healthcare. News from Philips is located at
About MIT Technology Review
MIT Technology Review leads the global conversation about technologies that
matter. An independent global media company owned by the Massachusetts
Institute of Technology (MIT), the enterprise produces publications read by
millions of business leaders, innovators, thought leaders, and early adopters
around the globe, in six languages and on a variety of digital and print
platforms. The company publishes MIT Technology Review magazine, the world's
most respected technology magazine (established 1899); daily news features,
analysis, opinion, and video; and Business Reports, which explain how new
technologies are transforming companies, disrupting markets, or creating
entirely new industries. It also produces live events such as the annual
EmTech MIT, international EmTech conferences, Summits, and Salons. The
company's entrepreneurial community organization, the MIT Enterprise Forum,
hosts over 400 events a year around the world.
SOURCE Philips Lumileds
Contact: Silvie Casanova, Lighting Communications, Philips Electronics North
America, +1-978-659-7467, firstname.lastname@example.org, Jeannet Harpe, Philips
Lighting Communications, +31-6-53722221, email@example.com; For
Technology Review, David W.M. Sweeney, +1-617-475-8018,
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