An LED startup led by the great grandson of the founder of Philips electronics has broken the $5 price floor for LED bulbs. Called Lemnis Lighting, founded by Warner Philips, announced on Wednesday that it’s now selling a line of LED bulbs for $4.95 called the 200-lumen Pharox Blu via its website.
The milestone is important because high price has been the biggest barrier for the growth of LED lighting as a replacement to traditional incandescent and compact fluorescent lighting. LEDs are far more energy efficient and can provide savings for users over the life of the bulbs, but up until recently consumers and companies were paying far higher prices upfront. For example, $40 isn’t so uncommon for an LED bulb, and Lemnis sells its standard 200-lumen Pharox bulb for $20.
Lemnis’ 200-lumen Pharox BLU bulb is “bare-bones” to say the least. It’s non-dimmable, it comes with a 1-year warranty, and lasts 15,000 hours. However that’s still 15 times longer than incandescent bulbs.