Philips' pricey LED bulb has impressive specs

Philips on Sunday will start selling an LED bulb that sets a new bar for performance--and price.
The company will release the Philips L Prize LED on Earth Day for a suggested price of $50. The general lighting bulb came out of the Department of Energy's L Prize competition to develop long-lasting, efficient, and less expensive LED lamps. Philips claims its L Prize LED is the most efficient 60-watt LED equivalent and it improves on features from Philips own existing LEDs.