Growing consumer demand for thin screen TVs, smartphones and tablets has driven Corning (NYSE: GLW) to an earnings record and the company expects annual sales to grow to more than $10 billion by 2014.
Corning, the world's largest maker of liquid-crystal-displays (LCDs) posted revenues of $6.6 billion last year (up from 2009's $5.4 billion). The manufacturer said its future is partially tied to the growth of Gorilla cover glass as the base for frameless flat screen TVs. Gorilla generated about $250 million sales in 2010 mostly on cell phones, but with Sony onboard as a user it's expected to generate $1 billion this year from TVs.
Tablets, too, are expected to go hog wild for Gorilla and represent an "exceptional growth opportunity" as Corning competes with LG Display Co. and Asahi Glass Co., said James Clappin, Corning's glass technologies group chief.
For more:
- the Ithaca Journal has this story
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