Manufacturing Industry
Record LED purchase announced.(DISPLAYS)(Brief Article)
Purchasing, June, 2005
Japanese distributor Sumitomo Corp. will buy a record $200 million of light emitting diode (LED) products from Cree. This record purchase commitment was added to the existing distributorship agreement, which extends through Cree's fiscal year ending June 2007. The purchases will be made across Cree's full line of LED chip products representing its standard brightness, mid-brightness and high brightness devices, including MegaBright, XBright and XThin LEDs.
Sumitomo's Electronic Division hopes to expand its market share through increasing penetration in growing application segments like LCD backlighting.
"The renewal of our agreement and increased purchase commitment reflects the growth we are forecasting in Japan," says Chuck Swoboda, Cree's...
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