Cree Offers New Line of Better LED Bulbs

Resets Expectations for What LED Bulbs Should Be

DURHAM, N.C. -- Cree, Inc. (Nasdaq: CREE) announces a completely new portfolio of next generation LED bulbs aimed at delivering better light experiences for consumers. The new bulb portfolio consists of 25 new products, offering better light quality, better dimming, better lifetime, better warranty and better pricing to deliver on the true promise of LED technology to make lighting better than it was before.

“Cree is committed to innovation and unlocking the true potential of LED technology,” said Betty Noonan, Cree chief marketing officer and general manager, consumer lighting. “Many new LED products fail to live up to the promise of LED technology; shouldn’t you choose a better bulb when it will live in your house for decades?  Cree believes it’s now more important than ever to give consumers a better choice.”

“The Home Depot continues to offer the latest innovations in LED lighting, as can be seen with this new portfolio of Cree® LED bulbs. Our customers are looking for a high quality LED lighting experience that combines the latest technology with the benefits of energy savings and durability LEDs are known for,” said Joey Corona, Merchant, The Home Depot.

Notable features in the new bulbs include superior lifetimes, with most projected to last 22+ years and some up to 32 years.  Color rendition is improved, with smoother, quieter dimming to levels as low as 1 percent.  Cree’s market-leading “Candlelight Dimming,” available in the new candelabra bulb, mimic’s a true candle flame with a warmer 1800K color when dimmed.

The new Cree bulbs meet or surpass the requirements for ENERGY STAR® product certification and are covered by a 10 year 100 percent satisfaction guarantee – one of the strongest warranties in the industry. The new bulb portfolio includes new A-lamps, BR lamps, PAR lamps and Candelabra lamps, as well as a new series of recessed downlight retrofit products.

The new Cree LED bulbs are available this month, online and in-store, at The Home Depot®. Please visit http://creebulb.com to learn more. 

About Cree, Inc.:

Cree is a market-leading innovator of lighting-class LEDs, lighting products and semiconductor products for power and radio frequency (RF) applications. Cree believes in better light experiences and is delivering new innovative LED technology that transforms the way people experience light through high-quality interior and exterior LED lighting solutions.

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

For additional product and Company information, please refer to www.cree.com.

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 actual savings and lifetimes will vary from expectations; the risk 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; customer acceptance of our new 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 26, 2016, and subsequent filings.

Cree® is a registered trademark of Cree, Inc.  The Home Depot® is a registered trademark of Homer TLC, Inc.  ENERGY STAR® is a registered trademark of the U.S. Environmental Protection Agency.