According to the division's chief of General Electric, its lighting unit may draw as much as 75 percent of sales from LED products within the next decade, compared with less than 10 percent now, which means rising competition among GE suppliers is helping cut the cost of the chips used in the bulbs.
 
It's said that U.S. legislation will bring an end to production of the 100-watt incandescent bulb in 2012, prompting consumers to switch to other types including halogen and compact fluorescents. Lower-wattage incandescent bulbs will be phased out later.
 
Based on that, GE will introduce its first household LED bulb in November, designed to replace a 40-watt incandescent bulb while consuming only 9 watts of electricity.
 
The bulb has a life span of 22 years, and will sell for about $50. In 10 years, a household LED bulb will have a retail price of less than $10.