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Apple invests an extra $250 million into Corning

By Cookie Monster - on 18 Sep 2019, 6:00am

Apple invests an extra $250 million into Corning

Image source: Apple

Corning is receiving another $250 million award from Apple to develop "groundbreaking new glass innovations". The award comes from Apple's Advanced Manufacturing Fund, which is established to promote and support the innovative production and high-skill jobs that will help drive a new era of technology-driven manufacturing in the U.S.

The investment will support Corning's research and development into state-of-the-art glass processes, equipment and materials integral to the delivery of next-generation consumer devices. Wendell P. Weeks, Corning’s chairman, chief executive officer and president, shared that he is "excited by the new opportunities this additional investment creates." 

Apple invested $200 million in Corning two years ago to support the latter's research and development, capital equipment needs and advanced glass processing. According to Apple, the investment has paid off with the latest, cutting-edge products being used in the latest iPhone lineup. The iPhone 11 series are touted to have the toughest glass ever in a smartphone, and they have a back machined from a single piece of glass that allows for wireless charging.

Source: Apple

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