Philips LED named “Best Invention” by TIME magazine

Philips Electronics announced on Nov. 13 that its recently revealed LED replacement for the common household bulb was named one of the “best inventions of 2009 by TIME magazine. TIME’s editors declared, “With the flick of a switch, Philips Electronics may have just dramatically lowered America’s electric bill,” noting, “Philips’ LED bulb emits the same amount of light as its incandescent equivalent but uses less than 10W and lasts for 25,000 hours — or 25 times as long.”