Many colleagues have expressed their belief that he deserves the Nobel Prize for his invention of the red LED. On this subject, Holonyak says, "It's ridiculous to think that somebody owes you something. We're lucky to be alive, when it comes down to it." In October 2014, Holonyak reversed his stance by stating "I find this one insulting." in reaction to news that the inventors of the blue LED were awarded the 2014 Nobel Prize in Physics, instead of his fellow LED researchers.