The touch display market is set to become even bigger as Corning and Samsung strengthen their partnership. Corning is already a leader in specialty glass but it’s now gaining full control of the Samsung Corning Precision Materials Co., Ltd.
This will then give the South Korean giant 7.4 percent in Corning which is worth about $1.9 billion. This also includes a new long-term agreement between the two companies extending through year 2013.
“We are excited to enter this new era of collaboration in our 40-year equity relationship with Samsung, one of the world leaders in consumer electronics. The agreements provide important financial and strategic benefits to both Corning and Samsung.” - Wendell P. Weeks, Chairman, CEO, and President of Corning
Corning and Samsung aren’t really exclusive as other manufacturers like Apple, HTC, and Motorola also use Corning’s glass products but this will bring Corning long-term financial benefits.