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Samsung and Corning ink deal that will see them build a $600 million LCD glass factory in China

Samsung and Corning to spend $600 million building an LCD glass factory in China
By Anthony Garreffa from Jul 25, 2012 @ 1:27 CDT

Samsung have inked a deal with Gorilla Glass maker Corning, which will see the two companies build a jointly-owned TFT-LCD glass factory in China that will cost $600 million.


The two companies inked a "memorandum of understanding" with the Wuxi New District government in China for the new $600 million facility, which is set to take over some of the manufacturing heavy lifting from factories based in South Korea.

Back in 1995, the companies set up Samsung Corning Precision Glass, which has seen Corning gaining significant footing in the mobile market, with their biggest feat seeing their Gorilla Glass on the first iPhone from Apple, and since, many many more smart devices. The new factory will produce TFT-LCD glass, which is used in most mobile devices and more.

Such devices include laptops, mobile phones, monitors and TVs, just to name a few. This would give Samsung a further advantage across the wide range of industries the company already has a finger in. The deal is to formally begin this year, with both companies still needing to sign a final agreement.


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