LED lighting products are an increasingly important revenue driver for Philips (PHG) with 10% of revenues coming from LED last year, 15% this year and potentially over 20% next year. The company’s goal is 50% of lighting revenues from LED by 2015 and 75% by 2020. The company is continuing to look to grow through acquisitions which include purchases of lighting vendors PLI and Genlyte. Philips executive Edward Po noted that LEDs are quickly taking over the lighting market from traditional products and that will accelerate as costs continue to come down. A phasing out of traditional bulbs beginning in 2012 will certainly help drive growth.