DURHAM, NC -- Cree, Inc. (Nasdaq: CREE) expands its industry-leading LED bulb portfolio with the PAR38 Cree® LED Bulb family. These ground-breaking bulbs leverage the same technical innovations that made the Cree LED Bulb the best-selling LED light bulb in America - delivering a PAR38 replacement that looks and lights the way consumers expect, but uses 80 percent less energy. At just $24.97, or up to 50 percent less than comparable LED replacements, the PAR38 Cree LED Bulb utilizes the same textured glass and standard shape of traditional halogen PAR38 bulbs and is suitable for use outdoors. Best of all, the PAR38 Cree LED Bulb lasts for 25,000 hours, meaning you won't have to install another bulb for 23 years.*
"Addressing consumer spot, flood and outdoor lighting applications is the next logical step in growing our LED bulb portfolio," said Norbert Hiller, Cree executive vice president, lighting. "The PAR38 Cree® LED Bulb provides a lighting experience customers expect, but at a fraction of the energy consumption and cost of a traditional halogen PAR38, providing yet another reason to switch to LED and change the way people think about lighting forever."
With a textured inner surface, the PAR38 Cree LED Bulb is available in two beam angles - a 27-degree spot and 47-degree flood - and is UL® Rated for wet locations, making it ideal for outdoor fixtures and security lighting. The 27-degree spot provides a narrow, focused light, perfect for display light fixtures and track lighting, while the 47-degree flood casts a wide pool of light, ideal for general purpose lighting in track and recessed fixtures. Both versions of the new Cree bulb deliver 1500 lumens and consume only 18 watts. Like all bulbs in the Cree LED Bulb portfolio, the PAR38 Cree LED Bulb is backed by Cree's industry-leading, 10-year limited consumer warranty and available exclusively at The Home Depot®.
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.creebulb.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 we may be unable to manufacture these new products with sufficiently low cost to offer them with acceptable margins; the risk we may encounter delays or other difficulties in ramping up production of our new products; the risk that actual savings will vary from expectations; 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 30, 2013, and subsequent filings.
*23-year lifetime based on average use of 6 hours per day
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