samsunggalaxys3 Samsung and Corning to build $600 million LCD glass factory in China

Samsung has teamed up with Corning to build a jointly-owned TFT-LCD glass factory in China that will cost $600 million.

Samsung has teamed up with Corning to build a jointly-owned TFT-LCD glass factory in China that will cost $600 million.

 
The duo inked a “memorandum of understanding” with the Wuxi New District government in China for the new facility, which will take over some manufacturing capacity from factories in South Korea.
 
The companies previously set up Samsung Corning Precision Glass in 1995 and Corning has been gaining significant footing in the mobile market, with its Gorilla Glass featuring in the first iPhone launched by Apple and many other mobile devices since.
 
samsunggalaxys3 Samsung and Corning to build $600 million LCD glass factory in China
 
The new factory will produce TFT-LCD glass, which is used in laptops, mobile phones, monitors and TVs, among a number of other devices, giving Samsung a further advantage across the spectrum of industries it operates in.
 
The deal is expected to formally begin later this year, with both companies still needing to sign a final agreement. It is not yet clear when the build will begin or when the factory will open, but we expect it will take a few years.
 
Source: Reuters