In October last year, Samsung and Corning signed a series of agreements under which the latter will become the owner of the joint venture Samsung Corning Precision Materials. Company name disappeared from the mention of the South Korean giant, but the relationship between Samsung and Corning does not end there.
Corning is going to move the production of protective glass Gorilla Glass in South Korea, while closing factories in Japan. This step gives Corning strategic and financial advantages, in particular, the content of CPM production capacity in Korea cheaper.
Corning last week held a meeting with Japanese staff, during which it was announced the move, as well as the issues related to the forthcoming reduction in the workforce in the Land of the Rising Sun.