NEW DELHI, INDIA, August 13 2014 -Corning Incorporated (NYSE:GLW) and Micromax Informatics Limited, India's second largest smartphone brand, have signed an agreement to deliver the durability and damage resistance of Corning® Gorilla® Glass 3 with Native Damage Resistance(TM) to Micromax smartphones.
India is one of the fastest-growing countries for smartphone adoption worldwide. The overall mobile phone market was estimated to be nearly 68 million units in 2013 and is expected to reach 155 million units by 2017.
To date, Corning Gorilla Glass has been featured in more than 33 major brands and 2,450 product models, spanning more than 2.7 billion devices worldwide.
"Micromax has shown tremendous growth over the years and has revolutionized the entry- level smartphone market in India," said Amit Bansal, president, Corning India Technologies. "We are pleased to announce our collaboration with a brand that will provide consumers with outstanding performance of Gorilla Glass 3 across the premium line of Micromax smartphones. The introduction of our latest product innovation will enable slimmer and sleeker devices, brighter images, and better touch sensitivity."
Sanjay Kapoor, chairman, Micromax Informatics Ltd., said, "At Micromax, we endeavor to augment customer experience through innovative technologies and best-in-class collaborations. Our agreement with Corning, a world leader in materials science, exemplifies our vision to differentiate based on enhanced customer experience."
"Corning Gorilla Glass 3 is an ideal solution for the Micromax smartphone product portfolio, providing our customers with a superior touch experience, durability, and damage resistance. We look forward to a successful relationship with Corning to deliver a differentiated experience to our consumers," Kapoor added.
Corning Gorilla Glass 3 with Native Damage Resistance is based on a proprietary glass composition that delivers durability enhancements at the atomic level of the glass. This formulation provides enhanced scratch resistance, reduced scratch visibility, and better retained strength once a scratch occurs. Formed using Corning's fusion draw process, Gorilla Glass 3 provides a smooth and sleek surface ideal for touch devices.
Forward-Looking and Cautionary Statements
This press release contains "forward-looking statements" (within the meaning of the Private Securities Litigation Reform Act of 1995), which are based on current expectations and assumptions about Corning's financial results and business operations, that involve substantial risks and uncertainties that could cause actual results to differ materially. These risks and uncertainties include: the effect of global political, economic and business conditions; conditions in the financial and credit markets; currency fluctuations; tax rates; product demand and industry capacity; competition; reliance on a concentrated customer base; manufacturing efficiencies; cost reductions; availability of critical components and materials; new product commercialization; pricing fluctuations and changes in the mix of sales between premium and non-premium products; new plant start-up or restructuring costs; possible disruption in commercial activities due to terrorist activity, armed conflict, political or financial instability, natural disasters, adverse weather conditions, or major health concerns; adequacy of insurance; equity company activities; acquisition and divestiture activities; the level of excess or obsolete inventory; the rate of technology change; the ability to enforce patents; product and components performance issues; retention of key personnel; stock price fluctuations; and adverse litigation or regulatory developments. These and other risk factors are detailed in Corning's filings with the Securities and Exchange Commission. Forward-looking statements speak only as of the day that they are made, and Corning undertakes no obligation to update them in light of new information or future events.
About Corning Incorporated
Corning (www.corning.com) is one of the world's leading innovators in materials science. For more than 160 years, Corning has applied its unparalleled expertise in specialty glass, ceramics, and optical physics to develop products that have created new industries and transformed people's lives. Corning succeeds through sustained investment in R&D, a unique combination of material and process innovation, and close collaboration with customers to solve tough technology challenges. Corning's businesses and markets are constantly evolving. Today, Corning's products enable diverse industries such as consumer electronics, telecommunications, transportation, and life sciences. They include damage-resistant cover glass for smartphones and tablets; precision glass for advanced displays; optical fiber, wireless technologies, and connectivity solutions for high-speed communications networks; trusted products that accelerate drug discovery and manufacturing; and emissions-control products for cars, trucks, and off-road vehicles.
Micromax Informatics Limited is the 10th largest mobile phone player in the world (Counterpoint Research). Over the past few years, Micromax has pioneered the democratization of technology for masses by offering affordable innovations through their product offerings and removing barriers for large-scale adoption of advanced technologies. Micromax is currently the 2nd largest smartphone company in India with a market share of 17.5 percent in Q1 of 2014 (CyberMedia Research). The brand's product portfolio embraces more than 60 models today, including feature rich, dual - SIM phones, 3G Android smartphones, tablets, LED televisions and data cards. The company also has many firsts to its credit when it comes to the mobile handset market, including the 30-day battery backup, dual SIM phones, QWERTY keypads, universal remote control mobile phones etc. Micromax sells more than 3 million mobility devices every month, with a presence in more than 560 districts through 150,000 retail outlets in India. With presence across India and global presence in Russia and SAARC markets, the Indian brand is reaching out to the global frontier with innovative products that challenge the status quo that Innovation comes with a price. For more information, please visit www.micromaxinfo.com or - f - Micromax or @Micromax_Mobile.
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Source: Corning Incorporated via Globenewswire