Samsung phones to feature Gorilla Glass until 2023, gains 7.4 per cent stake in Corning
It has been announced that Samsung will continue to use Corning LCD display glass, such as the strengthened Gorilla Glass products currently used on many of its smartphones, until at least 2023. The agreement has been signed as part of a deal in which Corning acquires Samsung's 43 per cent share of Samsung Corning Precision Materials in return for a stake in the main company.
When the acquisition is completed in the first quarter of 2014, Corning will completely own the original joint venture and Samsung will have a 7.4 per cent stake in Corning, worth an estimated $1.9 billion (£1.176 billion).
"We are pleased to have an opportunity to strengthen the strategic ties between our two companies," said Kinam Kim, president and chief executive officer of Samsung Display. "We look forward to concentrating our efforts and combining our expertise in product development with Corning's renowned leadership in glass technologies to develop new market opportunities in consumer products and other industries."
It will be interesting to see if the new relationship between the companies results in Samsung adopting Gorilla Glass or other Corning technologies for products other than Smartphones, tablets and an interactive table, such as in its television ranges. Rival Sony has already used the tough glass to front one of its Bravia TVs, the HX8.