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Future bright for LED light

The race is on to make energy-efficient LED light bulbs cheaper — and to see which company can capture the biggest slice of the consumer market pie. Cleveland-based Cree (CREE) made its bid in early March with a line of low-cost LED bulbs to be sold at Home Depot (HD). That was followed by news German lighting manufacturer Osram will launch its own 40-watt equivalent LED bulbs to sell for $13.10 in U.S. currency. The day of Cree's announcement, its shares rose 14% to 51.16; the stock climbed to a 2-year high of 55.66 on March 22. On Fri., Cree shares rose 0.5% to 53.39.