June 4, 2014

Cree Reinvents the Three-Way LED Bulb

Cree Introduces the Bulb Consumers Have Waited For, Delivering Better Performance and Price
DURHAM, NC -- Cree, Inc. (Nasdaq: CREE) continues to relentlessly expand America’s best-selling LED bulb portfolio with the 3-Way Cree® LED Bulb. Unlike compromised incandescent and prior LED alternatives with light levels that were only useful as two-way bulbs, the 3-Way Cree LED Bulb provides three light levels distinctly visible to the naked eye, delivering the perfect illumination for any application—from task lighting to ambient lighting. The 3-Way Cree LED Bulb emits warm, incandescent-like light while consuming up to 90 percent less energy. Available at The Home Depot® for $24.97, the 3-Way Cree LED Bulb is about half the cost of comparable LED bulbs.

“Cree continues to reshape the lighting industry and push LED lighting to the next level with a three-way LED bulb that delivers a better lighting experience than they’ve had with incandescent and LED bulbs,” said Norbert Hiller, Cree executive vice president, lighting. “The 3-Way Cree® LED Bulb is another example of Cree’s commitment to providing consumers with choice and flexibility to encourage more rapid LED adoption.”

“We’re excited to provide our customers the 3-Way Cree® LED Bulb, an affordable LED alternative that delivers on the promise of a real three-way bulb with three distinct and visible levels of light,” said Mark Voykovic, light bulb merchant, The Home Depot. 

Giving consumers complete control over their lighting with a simple flip of a switch, the 3-Way Cree LED Bulb provides 320, 820 or 1620 lumens (equivalent to 30-, 60- and 100-watt incandescents) in one bulb in a soft white (2700K) color temperature while consuming as few as three watts. The 3-Way Cree LED Bulb also lasts 25,000 hours, works in any orientation, and is backed by Cree’s industry-leading 10-year consumer warranty. 

Consumers can purchase the 3-Way Cree LED Bulb online at www.homedepot.com/cree and in The Home Depot stores. Visit www.creebulb.com to learn more. 

About Cree
Cree is leading the LED lighting revolution and making energy-wasting traditional lighting technologies obsolete through the use of energy-efficient, mercury-free LED lighting. Cree is a market-leading innovator of lighting-class LEDs, LED lighting and semiconductor products for power and radio-frequency (RF) applications.

Cree's product families include LED fixtures and bulbs, blue and green LED chips, high-brightness LEDs, lighting-class power LEDs, power-switching devices and RF devices. Cree® products are driving improvements in applications such as general illumination, electronic signs and signals, power supplies and solar inverters.

Please refer to www.creebulb.com for additional product and company information.

This press release contains forward-looking statements involving risks and uncertainties, both known and unknown, that may cause actual results to differ materially from those indicated. Actual results may differ materially due to a number of factors, including the risk that we may be unable to manufacture these new products with sufficiently low cost to offer them at competitive prices or with acceptable margins; the risk we may encounter delays or other difficulties in ramping up production of our new products; the risk that actual savings and lifetimes will vary from expectations; customer acceptance of LED products; the rapid development of new technology and competing products that may impair demand or render Cree’s products obsolete; and other factors discussed in Cree’s filings with the Securities and Exchange Commission, including its report on Form 10-K for the year ended June 30, 2013, and subsequent filings.

Cree® is a registered trademark of Cree, Inc.
The Home Depot® is a registered trademark of Homer TLC, Inc.