Why is Apple investing so much in Corning glass?

Apple has just invested $ 45 million in Corning, after record investments of $ 200 million and $ 250 million in 2017 and 2019.

This is already the third time that Apple has invested several million in Corning, creator of the famous glass Gorilla Glass. In 2017, the Cupertino company invested no less than $ 200 million, then an additional $ 250 million in 2019. Apple announces that it has just completed a third financing of $ 45 million with its partner, which amounts to 495 million dollars. dollars the total investment of Apple at Corning for four years. This cash will be used both to increase Corning’s production capacity while supporting its R&D.

Credit: Apple

Apple et Corning, “A long story to accomplish the impossible”

Corning may equip most smartphones on the market with its ultra-resistant glass, the firm has a very special relationship with Apple. “Apple and Corning have a long history of working together to accomplish the impossible” said Jeff Williams, COO at Apple, after the announcement. Latest example: the Ceramic Shield by l’iPhone 12, touted as the world’s toughest smartphone glass. “The Ceramic Shield is a prime example of technologies that are possible when deep innovation meets the power of American manufacturing. “

Apple’s investment in Corning is also part of its program Advanced Manufacturing Fund, an initiative of Apple to financially help its privileged partners, as is the case of Corning. It may also be an opportunity for Apple to ensure the exclusivity of the future foldable glass from Corning, in order to equip the folding iPhone planned for 2023, who knows?

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