Corning Incorporated Corning Inc. (NYSE: GLW) was founded in 1851, formerly known as Corning GL ASS W Orks (stock code Origin), in April 1989 changed to its present name with headquarters in the city of Corning, New York, and full-time employees With 51,500 people, it is an American manufacturer of special glass and ceramic materials.
Based on its more than 160 years of knowledge in materials science and process technology, Corning Corporation has created and produced many key components used in high-tech consumer electronics, mobile emission control, telecommunications and life sciences. Corning Incorporated is engaged in display technology, optical communications, environmental technology, specialty materials and life sciences businesses worldwide.
Corning is divided into 5 departments to operate:
- Display Technologies (Display Technologies)-produces glass substrates for organic light-emitting diodes and liquid crystal displays for televisions, laptops and flat-panel desktop displays. Through the establishment of factories in Japan, China, the United States and other places, and the joint venture-Samsung Corning Precision Glass Co., Ltd. (SCP) established in South Korea and Samsung each with 50% of the shares, the high-tech glass and high-value customer cooperation relationship Combine, make yourself a reliable supplier on a global scale.
- Optical Communications (Optical Communications)-production of optical fiber and optical cable; and hardware and equipment products, including cable assemblies, optical fiber hardware and connectors, optical components and couplers, closure devices, network interface equipment, and for various operators Other accessories for web applications. The department also provides subscriber line splitting, connection and protection equipment, various digital subscriber line passive solutions and external factory enclosures; and coaxial RF interconnections for the cable television industry and microwave applications.
- Environmental Technologies (Environmental Technologies)-produces ceramic substrates and filtration products for emission control in mobile, gasoline and diesel applications (ceramic substrates and filters used in automotive exhaust emission control systems). Corning will continue to provide engine and car manufacturers with innovative diesel and gasoline emission control technologies to prevent harmful pollutants from entering the air.
- Specialty Materials Department (Specialty Materials)-products produced can provide material formulations for glass, glass ceramics and fluoride crystals. Provide enterprises with optical and special glass solutions. From creating glass windows for space shuttles to developing optical components for high-tech industries, Corning Specialty Materials provides optical solutions and more than 160 material formulations to meet the special needs of users.
- Life Sciences (Life Sciences)-development, manufacture and supply of laboratory products containing consumables, such as plastic containers, special surfaces, cell culture media and serum, as well as for cell culture research, bioprocessing, microbiology, chemistry, and genome General laboratory equipment and equipment for science, drug discovery.
Corning’s main contributions:
- In 1879, the first glass bulb was invented and manufactured , making Edison’s invention a reality.
- In 1947, the first television picture tube was invented and manufactured on a large scale , which enabled television to enter millions of households.
- In 1970, the world’s first optical fiber was invented and manufactured , making optical fiber communication widely used.
Corning and Gorilla Glass:
Gorilla Glass is an environmentally friendly aluminum silicon tempered glass produced by Corning in the United States. The predecessor of Gorilla Glass was produced by Corning in the 1960s. It is a special glass with bulletproof function, which is often used in helicopters. Under normal circumstances, unintentional damage will not cause scratches. In January 2012, Corning announced the launch of their second-generation Gorilla Glass at the CES show, and will meet with consumers in May 2012. The new generation of Gorilla Glass is thinner and lighter than previous products, and can even be bent to provide better protection for touch screen devices. On January 10, 2013, Corning demonstrated the third-generation Gorilla Glass at this CES and demonstrated how strong the glass is.
Gorilla Glass is widely used in high-end smart phones and tablets. Mobile phone manufacturers such as Finland Nokia Lumia920(T), Lumia925(T), Lumia928 and Lumia1020 all use Corning Gorilla series glass. Jobs also hoped that Corning would produce scratch-resistant mobile phone screen glass for the iPhone .
Corning and Samsung:
On October 23, 2013, Corning will acquire the entire equity of Samsung Corning Precision Materials (SCP), its LCD glass joint venture with Samsung Display, while Samsung Display originally held a 43% equity in SCP. And signed a 10-year liquid crystal display (LCD) panel glass supply agreement.
In exchange, Samsung Display will hold a 7.4% stake in Corning. Samsung will receive Corning’s convertible preferred stock with a face value of US$1.9 billion and will spend an additional US$400 million to subscribe for Corning’s additional convertible preferred stock. If these preferred shares are converted, Samsung will acquire a 7.4% stake in Corning. These preferred shares will be converted at a price of $20 per share in 7 years, and Corning also has the right to mandatory conversion if the stock price exceeds $35.