Corning has announced that prices for its display substrate glass will increase by 20%. The price rise increase will be global, affecting all compositions, and take effect in the third quarter of 2023.
Corning said the price adjustment is intended to offset the high cost of energy, raw materials, and other non-yen-denominated operating expenses during a period of sustained inflation that has affected many industries around the world – including the display industry.
Corning expects demand for its display glass to grow in the second half of 2023, owing to the display industry’s recovery and typical seasonal demand patterns. Corning said it will continue to monitor the environment in which it operates and base future price adjustments on changes in market conditions, inflation-affected costs, and other industry trends.
It is reported that Corning’s first quarter GAAP sales were $3.2 billion (USD; currently about 22.176 billion yuan), with core sales of $3.4 billion. Both figures constitute a 7% decline on the previous year.
In related news, Corning has just announced the release of its sixth-generation Gorilla Glass, which has long been used in major brands of smartphones, tablet PCs and other products. Gorilla Glass 6 is in production and available to smartphone markers, while Corning has also said it is continuing to work to improve the performance and scale production of glass for bendable devices.
Panox Display could provide customized cover glass for developers with Corning or ACG glass, both are high level cover glass material.