"Prices for LEDs are high but falling quickly. A 'dumb' LED that puts out as much light as a $1.25 (74p) incandescent bulb now sells for $9 (£5.35) but uses one sixth the energy and lasts much longer. That's down from $40 (£23.76) each a couple of years ago. A connected LED bulb from Phillips's Hue line retails in the U.S. for $59 (£35). But these will get cheaper too. Philips says a third of it's lighting revenue now comes from LEDs, and about 1.7% from the newer LEDs that can connect to the internet."
David Talbot, MIT Technology Reviews - Chief Correspondent and Editor