“The technology and performance of the new Cree LM16 LED Lamp demonstrates Cree’s commitment to accelerate the adoption of LED lighting,” said Greg Merritt, vice president, marketing, lighting at Cree. “Optimizing each design element – optics, drivers, thermal management and our proprietary lens design, Cree continues to develop new LED technology that is energy-efficient and provides outstanding performance and value to our customers.”The Cree LM16 LED Lamp is sold through Cree lighting sales channels. For more information on Cree’s latest innovation, visit www.cree.com/lm16. * The Cree LM16 LED Lamp can replace up to 50-watt halogen lamps and uses only 9 watts of input power. With typical commercial usage of 16 hours per day and the national average $0.12 per kWh electric costs, lighting-related HVAC impact and relamp maintenance reductions, many upgrade installations can pay for themselves in less than one year. About Cree Cree is leading the LED lighting revolution and making energy-wasting traditional lighting technologies obsolete through the use of energy-efficient, mercury-free LED lighting. Cree is a market-leading innovator of lighting-class LEDs, LED lighting and semiconductor products for power and radio-frequency (RF) applications. Cree's product families include LED fixtures and bulbs, blue and green LED chips, high-brightness LEDs, lighting-class power LEDs, power-switching devices and RF devices. Cree products are driving improvements in applications such as general illumination, electronic signs and signals, power supplies and solar inverters. For additional product and company information, please refer to www.cree.com/lighting. To learn more about the LED Lighting Revolution, please visit www.creeledrevolution.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, including the risk that actual savings will vary from expectations; the risk that we may be unable to manufacture these new products with sufficiently low cost to offer them at competitive prices or with acceptable margins; the risk we may encounter delays or other difficulties in ramping up production of our new products; customer acceptance of LED products; the rapid development of new technology and competing products that may impair demand or render Cree’s products obsolete; 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, 2012, and subsequent filings.
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