A Clear Leader, Gaining Momentum in New Categories
We are the global leader in display. Our priority is to deliver stable returns and win in new display categories, and we have made significant progress to date.
Corning is the lowest-cost manufacturer in the display industry, and we have been first to market with all glass generations, up to and including the recent Gen 10.5. We set the standard for quality, leading in attributes such as size, thinness, and total pitch variation. These attributes support the increased demand for larger, higher resolution, and overall better displays. The display glass market is expected to continue to grow, driven by demand for large-size TVs and new applications. With 60-inch and larger screens expected to account for most of the display glass market growth through 2022, we are well-positioned to supply this growth and meet the increased technical requirements.
Our Display Market-Access Platform provides numerous advantages, including twice the revenue share of our nearest competitors at half the manufacturing costs and with the majority of industry profits.
Pricing Environment Becoming More Favorable
Corning is leveraging its competitive advantages to stabilize returns. We now expect annual price declines to improve further in 2019 to a low- to mid-single digit percentage. This is an important milestone toward the goal of continuing to moderate price declines and maintaining stable returns in Display. Our quarterly investor calls provide more details about the factors driving our view of a more favorable pricing environment.
Leveraging Our Advantaged Fusion Platform
Our fusion manufacturing platform is key to winning in new display categories including flexible OLED, LCD performance, and the growth of 8K. We’re emerging as the industry’s display-glass leader for flexible OLED panels with Corning Lotus™ Our fusion manufacturing platform is key to winning in new display categories including flexible OLED, LCD performance, and the growth of 8K. We’re emerging as the industry’s display-glass leader for flexible OLED panels with Corning Lotus ® Astra TM glass for 8K devices – and reduce cost.
Objective
Deliver stable returns.
Corning has leveraged its deep customer relationships, materials science knowledge, and process expertise in display to enter new markets.