The company is known for lighting up the Eiffel Tower in Paris, the pyramids in Egypt, the Acropolis in Athens, and Big Ben in London.
"Good lighting ensures security, revives tourism, creates a nice ambiance and increases social interaction," Anton Booij, CEO of Philips Turkey, said Saturday.
Booij said 1,760 light sources were used on the bridge cables, 166 on the main cables, 860 on the towers and 478 on the barriers.
Booij said light shows could now be performed on the bridge thanks to the new LED system. The project to light up the Bosphorus Bridge cost about 3 million euros.
Earlier, Philips lit up Istanbul's Kadiköy Square, the Selimiye Mosque, Bodrum and Çesme castles, among other places in the country.
The previous lighting of the Bosphorus Bridge had drawn strong criticism from certain segments of society with some saying the lights would increase the number of traffic accidents due to their distracting nature and others saying Istanbul did not need such "kitch" to attract tourist and that it amounted to defacing Istanbul's rich culture.
The Bosphorus Bridge is one of two bridges connecting Istanbul's European and Asian sides.