Posted by Tsepz_GP
Through a few preferred share swaps and additional financing, Samsung is acquiring a stake in the maker of the thin and durable Gorilla Glass. Corning issued a press release that the total investment will hit $1.9 billion after the interest in Samsung Corning Precision Materials joint venture is redeemed, plus $400 million in additional financing, for a total of 7.4% ownership in the company.
Corning's shares have been on a meteoric rise recently, as everyone started using its glass, and there are even rumors circulated yesterday that Apple will have its two upcoming TV sets equipped with LG display panels, and covered in Gorilla Glass 3, so Samsung is securing its long-term usage here, not to mention it might want to have dibs on the flexible Willow Glass for bendy phones, too.
Long term in this case means ten years, until 2023, but Corning is also hoping to get access to some of Samsung's know-how, to further improve on their products, too. Needless to say, Corning's shares jumped almost 30% after hours when the news broke.
PhoneArena
Posted by Supa_Fly
More reputable source - which also shows where your money should be at:
http://www.bloomberg.com/news[....]buyback-samsung-agreement.html
Bloomberg baby, Bloomberg!
More importantly this news could SERIOUSLY affect the competition in coming years and I'm not talking about phones/smartphones here but:
Laptops (think MacBook Air, MacBook Pro Retina as they become much thinner, regidity/build structural integrity will heavily rely on more tensile strength alloys than the Aluminum that Apple uses (although not many are easily and cheaply recyclable - which also increases Apple's profits: more tax deductions on carbon footprint and recylable materials equaling less waste means LESS $$ out their pockets to many governments which means more profits!!)
Tablets,
and also TV's.
Posted by Gitaroo
what other options are there beside gorilla glass? I know Sony use Dragon tail or something...
Posted by Bonovox
Mineral glass
Posted by Supa_Fly
On 2013-10-24 03:09:12, Gitaroo wrote:
what other options are there beside gorilla glass? I know Sony use Dragon tail or something...
Dragon Tail is a major competitor product to Gorilla Glass but I'm unsure whom makes it. Corning is a HUGE ... HUGE industry on it's own that owns much of it's revenue and sales to a simple patent an outstanding engineer made back in the early 70's for a ballistic missle under USA contract. So one has to wonder what else is Samsung after for this technology.