June 29, 2015
Cree Delivers Affordable High-Quality LED Candelabra Experience without the Sacrifice
New Cree LED Candelabra Bulbs Converge Lighting Elegance and Efficiency
DURHAM, N.C., June 29, 2015 – Cree, Inc. (Nasdaq: CREE) continues to raise the bar in LED applications with the introduction of the TW Series™ LED Candelabra bulb, delivering the exceptional lighting experience consumers expect from Cree’s best-selling LED Bulb portfolio. The Cree® LED Candelabra bulbs emit a warm, decorative light while consuming up to 88 percent less energy* than traditional incandescent bulbs – making it ideal for candelabra fixtures, wall sconces and chandeliers. Available as 25- and 40-watt replacements, the new Cree LED Candelabra bulbs are sold in three-bulb multi-packs at The Home Depot® stores for $19.97.
“Our innovative TW Series™ LED Candelabra bulbs exceed customer expectations and bring them one step closer to the whole-home Cree® LED experience,” said Betty Noonan, Cree chief marketing officer. “Cree is unyielding in our pursuit for brighter, more energy efficient lighting that delivers a better overall experience, so consumers never have to forfeit performance for affordability. Not all LED bulbs are created equal, and our best-selling LED bulb portfolio outpaces any competitor on the market today, demonstrating the quality commitment driving Cree innovation.”
Cree’s LED Candelabra Bulb is designed to provide a superior lighting experience with an exceptional Color Rendering Index (CRI) of 90 that displays warm, natural light so colors look the way they are intended to look. The new TW Series Candelabra LED bulb lasts up to 25 times longer than a typical incandescent bulb with an innovative filament specifically designed to improve light distribution and enhance the glow so it looks and lights like an incandescent candelabra bulb while providing a unique sparkle effect. The bulbs provide all the features of first-rate LED lighting, with instant-on performance, compatibility with most standard dimmers and a durable, shatter-proof design that delivers high-quality light for years to come.
“Exceptional color rendering is critical in moving consumers away from inferior, inefficient lighting and toward more efficient LED lighting technology,” said Michael Siminovitch, director, California Lighting Technology Center. “The new Candelabra bulbs extend Cree’s leadership in LED innovation and creation of consumer products that can truly transform the lighting marketplace, while delivering on customer demand for high-quality lighting for all of their needs.
Please visit www.homedepot.com/cree or your local Home Depot store to purchase the Cree TW Series LED Candelabra bulbs today.
*Based on Cree TW Series LED Candelabra bulb 40-watt replacements at 5 watts, $0.11 per kilowatt-hour, 25,000-hour lifetime and average usage of 3 hours per day.
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.
Please refer to www.cree.com for additional product and company information.
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 and lifetimes will vary from expectations; the risk 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 29, 2014, and subsequent filings.