Corning, maker of the Gorilla Glass that is used on basically every high-end smartphone out there, has announced that it has taken full control of Samsung Corning Precision Materials Co. Ltd., a joint venture 43 percent owned by Samsung. In return, Samsung will be getting a 7.4 percent stake in Corning, valued at $1.9 billion worth of shares.
Furthermore, Samsung and Corning have also signed a deal that will secure supply of the latter’s Gorilla Glass to Samsung Display through 2023, a move that should ensure that Samsung is able to use the most scratch-resistant display glass in the market in its devices for many years to come (though whether we’re still using Samsung smartphones, or smartphones from any major manufacturer today, in 2023 remains to be seen.)
