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Philips Named To MIT Technology Review's 2013 50 Disruptive Companies List Recognizing World's Most Innovative Companies

Stocks in this article: PHG

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 consumption.

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