Cree Inc.

Cree, Inc.
Public
Traded as NASDAQ: CREE
Industry Electronics
Founded 1987
Headquarters Durham, North Carolina, USA
Products Light-emitting diodes
Revenue $1.65 billion[1]
USD $124 million (Fiscal Year 2014)[1]
Number of employees
 6,500[2]
Website www.cree.com
Cree's high-power LEDs, XLamp 7090 XR-E Q4
A Cree 9.5 watt 800 lumen dimmable lamp bulb, with 2700 K color temperature, introduced in March 2013

Cree, Inc. is a multinational manufacturer of semiconductor light-emitting diode (LED) materials and devices, with its headquarters in Durham, North Carolina. Most of its products are based on silicon carbide.

Cree was formed in 1987 by researchers from North Carolina State University.

In 2005, Cree opened a subsidiary, Cree Asia-Pacific Ltd., in Hong Kong.[3][4] In March 2007, Cree acquired Cotco Luminant Device Ltd of Hong Kong, a supplier of high brightness LEDs in China, for $200 million.[5] In 2009, Cree announced an agreement to purchase a 592,000-square-foot (55,000 m2) facility in Huizhou, Guangdong Province, China, Cree’s first chip production facility outside of North America.[6] Also in 2009, Cree announced an expansion at its Durham plant.[7]

On February 8, 2012, Cree announced the XLamp XT-E, which they said delivers twice as much light for the same price as older LEDs.[8] In October 2013, Cree's first consumer products, two household LED bulbs qualified for Energy Star rating by the United States Environmental Protection Agency.[9]

Competing companies in the LED industry include Bridgelux, Inc, Nichia Corporation, Osram Opto Semiconductors, General Electric, and Philips Lumileds Lighting Company. Cree has 10% of the North American market.[10]

References

  1. 1 2 Garrabrant, Raiford (2015-05-05). "Cree Reports Financial Results for the Fourth Quarter and Fiscal Year 2014" (PDF). Cree.
  2. ↑ "Corporate Information snapshot". Wright Investor Service. Retrieved 10 Aug 2010.
  3. ↑ "Cree Subsidiary Opens in Hong Kong - Cree, Inc. (Photonics Spectra | Dec 2005 | Light Speed)". Photonics.com. Retrieved 2013-02-27.
  4. ↑ "Cree to Open New Subsidiary Headquarters in Hong Kong Science and Technology Park". PR Newswire (press release). Sep 8, 2005. Retrieved 2013-10-10.
  5. ↑ "Cree buys Chinese LED manufacturer Cotco". LEDs Magazine. Mar 13, 2007. Retrieved 2013-10-10.
  6. ↑ "Cree Signs Agreement for Expansion in Huizhou, China; New Chip Production Facility to Help Accelerate LED Lighting Revolution". Bloomberg news. Business Wire (press release). November 9, 2009. Retrieved 2013-10-10.
  7. ↑ Ranii, David (2010-01-01). "Cree stock soared in '09". News & Observer. Archived from the original on January 16, 2014. Retrieved 2010-01-01.
  8. ↑ Ranii, David (2012-02-08). "Cree launches another lower-cost LED". The News & Observer. Archived from the original on April 4, 2012. Retrieved 2012-02-08.
  9. ↑ Funk, John (October 10, 2013). "Cree's LED bulb now Energy Star, qualifies for up to $5 price cut". The (Cleveland) Plain Dealer. Retrieved 2013-10-10.
  10. ↑ LaMonica, Martin (18 February 2014). "50 Smartest Companies: Cree". MIT Technology Review (Massachusetts Institute of Technology). Retrieved 25 August 2014.

External links

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