) recently announced that it has a new manufacturing process in
place to mold its shatter-resistant smartphone glass covers.
These covers can be molded into three-dimensional shapes, which
will allow device makers to try new options while designing their
Corning, which considers
) and Samsung Electronics to be the major consumers of its
Gorilla Glass, is collaborating with Taiwan-based G-Tech
Optoelectronics Corp. on this new venture.
This new technology is believed to help in making the thickness
of Gorilla Glass uniform even when it's molded into different
shapes. It is more economical and will significantly lower the
cost of curved displays.
It should be noted, however, that this 3D-shaped Gorilla Glass
has no connection whatsoever with 3D viewing. Corning will use
the manufacturing process to create unique shapes of Gorilla
Glass without making it bulkier or compromising on its other
characteristic features. Corning will no longer need to ship the
parts from other parts of the globe.
Corning is a leading manufacturer of specialty glass and
ceramics. In the recently concluded third quarter, the company
spent $146 million on cash dividends and used $209 million to
repurchase its common stock.
Corning has a strong balance sheet, which will help the company
to capitalize on investment opportunities and make strategic
acquisitions, further improving its growth prospects. The senior
notes offering will bring down its cost of capital, thus
strengthening the company's balance sheet and supporting its
Currently, Corning has a Zacks Rank #3 (Hold). Some better-ranked
stocks worth considering include
), both with a Zacks Rank #2 (Buy).
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