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Apr. 14. 2008 / 4:00AM, PHG - Q1 2008 Royal Philips Electronics Earnings Conference Call

Martin Wilkie - Deutsche Bank - Analyst

Hi, good morning, it's Martin Wilkie from Deutsche Bank. Just some questions on your Lighting business; you mentioned you had some product issues at Lumileds which dragged the growth number. Could you let us know what the growth number would have been excluding that effect?

And also, I know also you stepped away from some products in UHP and LCD backlighting, really just to get an understanding of what the growth would be also without that effect, just to see the like-for-like growth rate on an ongoing basis.

And separately to that also in Lighting, if you could just give us an update on Genlyte. Obviously Genlyte very US exposed and obviously very exposed to the commercial market in the US. If you could just let us know what you're seeing in that market, given what's happening to economic trends in the US.

Pierre-Jean Sivignon - Royal Philips Electronics - CFO

Yes, okay, first of all on your question, if I understand correctly, your question is what would have been the growth of Lighting if we were to put aside, if I understand correctly, UHP, the final quarter of LCD backlighting last year and the impact of the product recall at Lumileds.

Martin Wilkie - Deutsche Bank - Analyst That's right.

Pierre-Jean Sivignon - Royal Philips Electronics - CFO

We've made that calculation and then the growth would have been around 4%. I think that would have been all-in-all the growth of the Lighting business excluding that.

And if you zoom down, and there you have to make a clear split between the so-called green products, and I will send you to the definition of green products which I think has been communicated separately, which, in our vocabulary, are all the products which are essentially enabling the user to consume less energy and be, you could say, a bit more green. That now is almost 50% of the base. Actually it is almost exactly 50%. And that particular part of the portfolio has grown at the tune of 12%.

So there is a bit of a macro trend currently taking place in Lighting where the green portfolio is starting to get traction. And you can now definitely, in this particular quarter, see a real difference of pace of growth between the two types of portfolio.

On your second question which is Genlyte, what I can say? So Genlyte has been with us for February and March. And the Genlyte contribution has been actually slightly north of what we were expecting. So, so far, Genlyte has actually contributed more than in the business case that we have taken to our bottom line.

Operator Thank you sir. Your next question comes from Mr. Timm Schulze-Melander from Bear Stearns. Please go ahead sir.


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