According to Mark Halper from CBS SmartPlanet, Philips CEO Frans van Houten has announced that the company could soon cut prices on LED light bulbs.

During a conference call with analysts to discuss financial results for the fourth quarter and year that ended Dec. 31, 2011, van Houten said “The price point for LEDs in the consumer space is still a little bit out reach.”  He noted that while consumers are moving to compact fluorescent bulbs that have a price point and energy savings between LED and incadescents, they are not yet generally adopting LEDs.

And van Houten has told to analysts in a comment that seemed to signal pending price cuts,  ”We are making progress. We are launching several hundred LED-based products in the next months,” that “for the consumers will make it attractive to make the shift.” He did not elaborate on the timing or size of the price cuts.

But don’t expect Philips to cut prices of other bulb styles. In fact, van Houten said the company is raising the price of CFL bulbs to reflect soaring prices of the rare earth-related phosphor that goes into CFL bulbs. Because LED bulbs also use phosphor, it would seem to pose an additional profits challenge as Philips lowers the price of LED bulbs.