Corning will increase price of display glass substrates in Q2

According to a report in the Science and Technology Innovation Board Daily, Corning recently announced that it will moderately increase the price of its display glass substrates in the second quarter.

It expects that in the next few quarters, the glass supply will remain in a shortage to a tight state. Industry insiders expect that panel manufacturer such as Innolux and AUO are also expected to increase their panel quotations in the current seller’s market, and panel prices will continue to rise in the second quarter.

Corning’s financial report showed that the company’s revenue for 2020 was US$11.452 billion, a year-on-year decrease of 2%, net profit was US$1.628 billion, a year-on-year decrease of 4%.

Although the global mobile phone market has declined significantly in 2020, Corning has benefited from revenue from special raw materials, and overall revenue and net profit have not fallen significantly.

Among them, in terms of display technology and screen glass, Corning’s total sales revenue last year was 3.172 billion yuan, and its net profit was much higher than that of optical communication products, reaching 717 million yuan, a year-on-year decrease of 9%.

(Source)