Corning Reiterates Growth Projections for its LCD Glass Business

Date: 24 March 2003
Source: Pressi.com

Date: 24 March 2003

Corning Incorporated (reaffirmed that it expects annual revenue growth for its LCD glass business of up to 20% to 40%, based upon anticipated trends.

In a presentation before the 2003 Display Industry Investment Conference in New York City, Donald B. McNaughton, vice president of Corning's Display business, told investors that the business growth drivers include a dramatic increase in the market penetration of liquid crystal display (LCD) desktop monitors, continuing growth of notebook computers and the emergence of LCD television.

McNaughton said Corning believes that over 70% of all desktop computer monitors will be LCD by 2006. He added, "Due to the popularity of LCD monitors on the desktop, LCD penetration is likely to reach 40% this year, compared to 28% in 2002. In addition, notebook computers, all of which have LCD screens, continue to appeal to more users and should grow to represent 25% of all new PCs sold this year."

He also reminded investors that LCD televisions currently represent only 1% of the color television market, but anticipated price declines and the introduction of new, larger screen sizes could drive market penetration to nearly 10% by 2006. He also noted that while current worldwide glass demand for all LCD applications is about 200 million square feet per year, the increasing popularity and larger sizes in LCD televisions and desktop monitors could result in the quadrupling of that volume by the end of the decade.

McNaughton pointed out that Corning has a strong technology position and will continue to invest in its fusion manufacturing process, a Corning invention. He said, "This sets the technical standard for the industry. Our glass enables thinner and lighter displays, which is particularly important for notebook computer applications. Our fusion process delivers glass with a pristine surface, critical as a foundation for the display transistors. And, these qualities are important for the new glass sizes being demanded by the industry for manufacturing efficiencies."

600450 Corning Reiterates Growth Projections for its LCD Glass Business glassonweb.com

See more news about:

Others also read

Local quality glass producer Emirates Glass Limited has won contracts to supply 68,000 square metres of its high quality EmiCool glass to five major projects in Dubai.
Southwall Technologies Inc. (Nasdaq:SWTX), a global developer, manufacturer and marketer of thin-film coatings for the electronic display, automotive glass and architectural markets, today announced that on Dec. 18, 2003, it secured an agreement for a new bank loan guarantee and equity financing package of up to $7.5 million from Needham & Company, Inc., its affiliates and Dolphin Asset Management.
Praxair, Inc. (NYSE: PX) today announced that its subsidiary Praxair Canada Inc.'s specialty gases plant in Paris, Ontario, Canada, is one of Praxair's first specialty gases plants in North America to complete the upgrade to ISO 9001:2000, the latest ISO 9000 standard for quality.
KUB Malaysia Bhd has accepted an offer from Nippon Sheet Glass Co Ltd (NSG) to acquire its 15% stake in Malaysian Sheet Glass Bhd (MSG) for RM32.6 million in cash, or RM2.68 per share.
Co-Ventures in Glass Containers (CVIGC, Ltd.) of Tampa, Florida, USA and Micro-Tek Canada, Inc. Of Toronto, Canada are excited to announce the beginning of a long term joint venture to combine their extensive experiences and resources to offer the Glass Container Industry globally a best value alternative for all their outsourcing needs in manufacturing, operations and technical assistance agreements, specifically targeted to the smaller manufacturers who have found the larger service companies to be cost and profit prohibitive.The principals of the two companies have found a global need for smaller glass companies who require excellent technical resources to properly compete within the industry without the high costs of employing their own staffs or outsourcing their requirements to the larger service companies whose own operating costs and overhead are substantial.
China's largest automobile glass maker Fuyao Glass Industry Group Co, Ltd, won its case against the dumping ruling of the US Department of Commerce (DOC).

Add new comment