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Corning Inc.

05/06/2019 | Press release | Distributed by Public on 05/06/2019 06:17

Corning Precision Glass Solutions Announces High Index Glass Wafers in 300-millimeter Diameter Size for Augmented Reality Devices

Corning Incorporated (NYSE: GLW), the world's leading supplier of high refractive index glass for eyewear, announced today that the company has developed 300-millimeter diameter glass wafers in select refractive indexes optimized for augmented reality (AR) device makers. These wafers offer the largest available size of high refractive index glass on the market today. Similar to the semiconductor industry, larger wafers are expected to reduce customers' manufacturing costs.

Corning's ultra-flat, high-index glass wafers are used to make waveguides, a key optical component in AR wearables. Larger-sized wafers enable lower cost for customers through a combination of material and equipment utilization improvements, which in turn support customers' efforts to make AR wearables more affordable for consumer applications.

'Corning has traditionally supplied 300-millimeter glass wafers optimized for the semiconductor industry. We are proud to bring the same capabilities to AR customers by offering the largest form factors of high refractive index glasses on the market,' said David Velasquez, general manager of Corning Precision Glass Solutions. 'These advancements in our glass-making capabilities enable customers to create immersive, high-quality AR experiences at price points that will facilitate wider adoption of AR technology.'

Corning has already shipped hundreds of thousands of high-index glass wafers to date, and the company was first to market supplying this high-precision material to Tier 1 consumer device makers. Corning plans to ramp production volumes of its new 300-millimeter diameter wafers throughout the year.

Corning will showcase its high-index glass portfolio for AR next week at the Society for Information Display's (SID) Display Week in San Jose, California, from May 14-16. Along with its glass wafers, Corning will feature:

  • Supporting technologies enabling mass production of AR wearables, including industry-leading flatness metrology and automated laser glass-cutting systems
  • A prototype AR device made by WaveOptics, a leading designer and manufacturer of diffractive waveguides

Corning invites media and potential customers to visit booth #1119 to learn more.

Caution Concerning Forward-Looking Statements
The statements contained in this release that are not historical facts or information and contain words such as 'will,' 'believe,' 'anticipate,' 'expect,' 'intend,' 'plan,' 'seek,' 'see,' 'would,' and 'target' and similar expressions are forward-looking statements. These forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and include estimates and assumptions related to economic, competitive and legislative developments. Such statements relate to future events that by their nature address matters that are, to different degrees, uncertain. These estimates are subject to change and uncertainty which are, in many instances, beyond our control. There can be no assurance that future developments will be in accordance with management's expectations. Actual results could differ materially from those expected by us, depending on the outcome of various factors. We do not undertake to update forward-looking statements.

Some of the risks, uncertainties and other factors that could cause actual results to differ materially from those expressed in or implied by the forward-looking statements include, but are not limited to: the effects of acquisitions, dispositions and other similar transactions, global business, financial, economic and political conditions; tariffs and import duties; currency fluctuations between the U.S. dollar and other currencies, primarily the Japanese yen, euro, Chinese yuan and South Korean won; product demand and industry capacity; competitive products and pricing; availability and costs of critical components and materials; new product development and commercialization; order activity and demand from major customers; the amount and timing of our cash flows and earnings and other conditions, which may affect our ability to pay our quarterly dividend at the planned level or to repurchase shares at planned levels; possible disruption in commercial activities due to terrorist activity, cyber-attack, armed conflict, political or financial instability, natural disasters, or major health concerns; unanticipated disruption to equipment, facilities, IT systems or operations; effect of regulatory and legal developments; ability to pace capital spending to anticipated levels of customer demand; rate of technology change; ability to enforce patents and protect intellectual property and trade secrets; adverse litigation; product and components performance issues; retention of key personnel; customer ability, most notably in the Display Technologies segment, to maintain profitable operations and obtain financing to fund their ongoing operations and manufacturing expansions and pay their receivables when due; loss of significant customers; changes in tax laws and regulations including the Tax Cuts and Jobs Act of 2017; the impacts of audits by taxing authorities; and the potential impact of legislation, government regulations, and other government action and investigations.

For a complete listing of risks and other factors, please reference the risk factors and forward-looking statements described in our annual reports on Form 10-K and quarterly reports on Form 10-Q.

Web Disclosure
In accordance with guidance provided by the SEC regarding the use of company websites and social media channels to disclose material information, Corning Incorporated ('Corning') wishes to notify investors, media, and other interested parties that it uses its website (http://www.corning.com/worldwide/en/about-us/news-events.html) to publish important information about the company, including information that may be deemed material to investors, or supplemental to information contained in this or other press releases. The list of websites and social media channels that the company uses may be updated on Corning's media and website from time to time. Corning encourages investors, media, and other interested parties to review the information Corning may publish through its website and social media channels as described above, in addition to the company's SEC filings, press releases, conference calls, and webcasts.

About Corning Incorporated
Corning (www.corning.com) is one of the world's leading innovators in materials science, with a more than 165-year track record of life-changing inventions. Corning applies its unparalleled expertise in glass science, ceramic science, and optical physics along with its deep manufacturing and engineering capabilities to develop category-defining products that transform industries and enhance people's lives. Corning succeeds through sustained investment in RD&E, a unique combination of material and process innovation, and deep, trust-based relationships with customers who are global leaders in their industries.

Corning's capabilities are versatile and synergistic, which allows the company to evolve to meet changing market needs, while also helping our customers capture new opportunities in dynamic industries. Today, Corning's markets include optical communications, mobile consumer electronics, display technology, automotive, and life sciences vessels. Corning's industry-leading products include damage-resistant cover glass for mobile devices; precision glass for advanced displays; optical fiber, wireless technologies, and connectivity solutions for state-of-the-art communications networks; trusted products to accelerate drug discovery and delivery; and clean-air technologies for cars and trucks.