Android World Update # Samsung acquires 7.4 percent share in Gorilla Glass maker Corning

Android Central - Android Forums - News - Reviews - Help and Android Wallpapers Android Central

Manage your social media Best social media tool for image publishing to Facebook and Twitter. Look amazing and delight your followers. Get 40% off when you sign up today. From our sponsors

Samsung acquires 7.4 percent share in Gorilla Glass maker Corning Oct 23rd 2013, 10:01, by Alex Dobie Corning buys out Samsung's stake in LCD joint venture; ten-year supply deal inked Samsung has acquired a 7.4 percent share in smartphone Gorilla Glass maker Corning, as part of a "strengthening" in the partnership between the two companies. The deal will also see Corning taking full control of Samsung Corning Precision Materials, an LCD panel joint venture in which Samsung currently holds a 43 percent stake. Samsung will make an additional investment of $400 million in Corning by subscribing to new convertible preferred shares, today's press release states. In return, Samsung will get $1.9 billion worth of convertible preferred shares in Corning, equal to a 7.4 percent stake in the company. At the same time a ten-year new supply agreement between the two has been inked, adding around $2 billion to Corning's annual sales. Corning's Gorilla Glass is used in many high-end mobile devices, including those of Samsung's competitors — and today's news may be of concern to the company's smartphone rivals, many of whom are already reliant on Samsung for other components. Source: Corning; via: Engadget

You are receiving this email because you subscribed to this feed at blogtrottr.com. If you no longer wish to receive these emails, you can unsubscribe from this feed, or manage all your subscriptions