SOURCE: The Bedford Report

The Bedford Report

March 03, 2011 08:46 ET

LED Market Showing Rapid Growth

The Bedford Report Provides Analyst Research on Cree & Veeco Instruments

NEW YORK, NY--(Marketwire - March 3, 2011) - Once a sector with very few recognizable names, the LED market has grown in recent years as more companies look to profit from the rise in sales of consumer electronics products such as mobile phones and television screens. While LED sales are up, a recent report from Citigroup speculates about an end to Chinese subsidies for some premier LED names and that pipeline start-ups will begin to dry up later this year. The Bedford Report examines the outlook for companies in the semiconductor equipment and materials industry and provides research reports on Cree, Inc. (NASDAQ: CREE) and Veeco Instruments, Inc. (NASDAQ: VECO). Access to the full company reports can be found at:

www.bedfordreport.com/2011-03-CREE

www.bedfordreport.com/2011-03-VECO

Orders from Korean and Taiwanese LED market leaders have slowed, leading China to make up the difference with its subsidy program as it strives to be a major player in LED lighting. China is expected to make changes to its subsidy program, yet the timing and nature of the changes remain unknown.

According to research firm iSuppli, China will invest $10.5 billion in LED projects over the next three years, and the nation's annual market for LEDs is expected to reach $7.08 billion in 2014, up from $4.37 billion in 2010.

The Bedford Report releases regular market updates on the semiconductor equipment and materials industry so investors can stay ahead of the crowd and make the best investment decisions to maximize their returns. Take a few minutes to register with us free at www.bedfordreport.com and get exclusive access to our numerous analyst reports and industry newsletters.

Veeco's Chief Executive John Peeler said last month that the company aims to supply at least half the global market for LED tools in 2011. Peeler says he expects the China subsidies to continue at least through the first half of the year, arguing that there is "a huge, really strong sense of urgency on the part of Chinese customers to try to build up a substantial business before these subsidies end."

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