LED price battle heats up as Osram launches 10-euro bulb

Germany's Osram is launching a new LED light bulb that costs less than 10 euros ($13.10) to battle rivals, such as Cree and Samsung Electronics, for a share of the fast-growing market. Light-emitting diodes (LED) - known for lighting flat-screen televisions and tablet PCs - are increasingly replacing other lights in homes, stores and on streets because they use less energy and are more durable. But they cost much more than incandescent bulbs or compact fluorescent lights, putting off consumers from buying LED lighting for their homes.