Philips and Cree sign comprehensive LED cross-license agreement

    July 7, 2010

    Amsterdam, The Netherlands (July 7, 2010) – Philips (NYSE:PHG, AEX: PHI) and Cree, Inc. (Nasdaq: CREE) have signed a comprehensive, worldwide patent cross-license agreement designed to further accelerate the growth of the LED lighting market.

    Philips and Cree both hold broad and substantial optoelectronic patent portfolios which are important to their respective businesses. This agreement covers patents in the Philips LED Luminaire Licensing Program and from both parties; patents in the fields of blue LED chip technology, white LEDs and phosphors (including remote phosphors), control systems, LED luminaires and lamps as well as LED backlighting of liquid crystal displays (LCDs).

    “Philips and Cree have significantly invested in innovation in LED lighting solutions. The wide-ranging IP portfolios of the respective companies reflect the outcome of this effort” said Rudy Provoost, Chief Executive Officer of Philips Lighting. “We wish to see the accelerated adoption of LED lighting, and are therefore delighted that Cree will be joining our LED Luminaire Licensing Program.”

    “This agreement demonstrates the breadth and depth of both companies’ intellectual property, as well as the fundamental nature and value these patents bring to the market,” said Chuck Swoboda, Cree chairman and CEO. “It also signals both companies’ commitment to growing the LED market while respecting the value and importance of international intellectual property laws.”

    For further information, please contact:

    Bjorn Teuwsen
    Philips Intellectual Property & Standards 
    Tel: +31 40 27 40588

    Simon Poulter
    Philips Lighting
    Tel: +31 40 27 55 273

    Michelle Murray
    Cree, Inc. Corporate Communications
    Tel: +1 919 313 5505

    About Royal Philips Electronics

    Royal Philips Electronics of the Netherlands (NYSE: PHG, AEX: PHI) is a diversified health and well-being company, focused on improving people’s lives through timely innovations. As a world leader in healthcare, lifestyle and lighting, Philips integrates technologies and design into people-centric solutions, based on fundamental customer insights and the brand promise of “sense and simplicity”. Headquartered in the Netherlands, Philips employs more than 118,000 employees in more than 60 countries worldwide. With sales of EUR 23 billion in 2009, the company is a market leader in cardiac care, acute care and home healthcare, energy efficient lighting solutions and new lighting applications, as well as lifestyle products for personal well-being and pleasure with strong leadership positions in flat TV, male shaving and grooming, portable entertainment and oral healthcare. News from Philips is located at