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Philips Aids the Climate Group Campaign to Save Energy

Premium consumer goods company Koninklijke Philips N.VPHG recently assisted The Climate Group - an award-winning, international non-profit organization that works for a low carbon future - in launching the latter's "LED = Lower Emissions Delivered" global campaign during the prestigious annual Climate Week NYC. The movement, coming as a partnership between the two companies, is aimed at persuading cities, utilities and local governments to resort to more economic and carbon-inclusive light-emitting diode (''LED'') lamps for lighting streets. Additionally, Philips has urged that every utility and city around the world should convert their street lighting to LED by 2025, so as to drive significant energy savings.

In the modern world, the demand for energy is increasing two times faster compared to the rate of energy efficiency and productivity. Amid this scenario of scarce energy resources, the need for optimal energy usage has become very important. For instance, use of LED lights for lighting streets saves almost 40-50% of energy compared with traditional lighting forms. In 2013, installation of 140,000 LED street lights saved almost 63% of energy in Los Angeles, which in turn, reduced the related costs by around $8.7 million in 2014. Moreover, in the current era, usage of software-controlled systems and sensors is becoming increasingly popular, as it adds to the energy-saving process.

Philips is currently helping the city of Los Angeles adopt more LED lighting through cloud- and mobile-based technologies. Aided by these approaches, the city is expected to save up to 80% of energy in the near future.

Moving Forward

Philips is one of the largest electronic companies in the world, immensely popular for its non-imitable services and products. The firm is divided into four distinct business sectors: healthcare, consumer lifestyle, lighting, and innovation & group services. We believe the partnership deal with The Climate Group would not only serve to augment Philips' brand status but also ensure better ways to conserve energy in the future.

Stocks to Consider

Philips presently carries a Zacks Rank #3 (Hold). Better-ranked stocks in the industry include Control4 Corporation CTRL , GigOptix, Inc. GIG and Research Frontiers Inc. REFR . While both Control4 Corporation and GigOptix sport a Zacks Rank #1 (Strong Buy), Research Frontiers Inc. holds a Zacks Rank #2 (Buy).

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KONINKLIJKE PHL (PHG): Free Stock Analysis Report

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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