The Korean manufacturer Samsung increases its investments in the display market and has signed a new agreement with Corning Gorilla technology for its Glass.
Specializing in LCD screens and founded in 2012, the subsidiary Samsung Display is more close to Corning. It develops both for glasses and scratch resistant, which are particularly suitable for mobile devices such as smartphones or tablets.
In May 1995 the two groups founded the joint venture of Samsung Corning Precision Materials, which is 43% owned by Samsung. However, the manufacturer has chosen to sell its shares in Corning and receives 1.9 billion of preferred shares of Corning, giving it at the same time a control of 7.4% of the company.
Both parties have also extended their agreement on LCD screens until 2023 and Samsung has the option to buy an additional 2 billion preferred shares by 31 December 2015.
Corning Glass is used by several manufacturers such as Apple, HTC, Motorola and Nokia, which already rely mostly on Samsung to design screens.