The Philips HUE LED lightbulb is one cutting edge piece of lighting technology. Not only is the bulb an energy efficient (80% better than an incandescent), long lasting bulb, but Philips has engineered the HUE to be customized via iPhone or iPad app, with color, shade, brightness, and timer options all controllable via app. Sounds awesome...except for the 1st adopter price.
But one argument in defense of the price is the expanded utility of HUE compared to a typical bulb. The timer feature can be used to program the bulb much in the same way light alarms work (bedside alarm clocks which use increasing amounts of light to wake up sleepers instead of sound). Also the ability to turn on or off lights remotely add an element of home security from a distance. And of course, being able to adjust the temperature of light can be either a mood booster or a relaxing element in rooms illuminated by the HUE. Basically, Philips has integrated several typically separate device features into one single form factor, making the price tag more reasonable (though I'll be waiting for these to drop down to the "impulse purchase" realm).
Via Bless This Stuff