Corning To Expand LCD Glass Capacity

Corning Incorporated announced today that its board of directors has approved a $600 million capital expenditure plan to further expand the company’s liquid crystal display (LCD) glasssubstrates manufacturing capacity in Taiwan and Japan. The expansion will occur in phases over the next 24 months, with approximately 40 percent of the total expenditure to be incurred this year.This new investment will add melting and finishing capacity to the company’s Tainan, Taiwan and Shizuoka, Japan facilities. It will add significant production capacity of Corning’s Generation (Gen) 5glass substrates; more than double the capacity of Gen 6; and add Gen 7 capability. Each successive generation is a larger glass sheet size, enabling more efficient production by LCD manufacturers.Construction at the company’s Shizuoka, Japan and Tainan, Taiwan facilities will begin immediately. These facilities are planned to start producing glass from these expansions late in 2004 through2005, as operations come on-line.

Corning, a world-leading supplier of glass substrates for LCD is increasing its manufacturing capacity of large generation glass worldwide to keep pace with anticipated industry demand and the continuing shift to larger glass substrates by LCD manufacturers. This industry growth is driven by increasing market penetration of LCD desktop monitors and ongoing growth of notebook computers. Corning continues to believe that the annual market volume growth for LCD glass could be in the 30 percent to 50 percent range over the next several years. Corning’s revenues for LCD products will be dependent on market shares, pricing trends and the impact of exchanges rates.

“The LCD industry is in a growth stage and Corning is stepping up to meet anticipated customer demand around the world,” said Donald B. McNaughton, senior vice president of Corning Display. “Flat panel monitors and notebook PCs are quickly becoming the norm in homes and offices, while high-definition LCD-TV may soon emerge as an additional driver of glass usage.”

Corning anticipates that LCD-TVs will become increasingly popular with consumers. LCD television sales reached 3 percent of the worldwide TV market in 2003, more than tripling the 2002 rate. Corning now believes that LCD-TVs may be up to 16 percent market penetration as early as 2006.

This penetration level may vary depending on pace of consumer acceptance of the LCD format, continued price declines and other factors. The larger displays used in LCD-TVs are beginning to fuel the demand for Gen 6 size substrates.

This major investment is in addition to the company’s $180 million expansion project, previously announced in July 2003, which is already underway to increase Gen 5 and 6 glass manufacturing capacity in Corning’s facility in the Tainan Science-based Industrial Park, Taiwan. Ongoing capacity expansions are also underway at Corning’s equity venture company in South Korea, Samsung Corning Precision Glass Co., Ltd. but are not part of today’s announcement.

“Corning has remained a world-leader in this industry since we invented the first glass substrate for active matrix LCDs in the 1980’s,” said James P. Clappin, general manager of Corning Display Technologies. “Large generation substrates are infusing new cost-efficiencies throughout the LCD industry with Corning’s EAGLE2000â„¢ glass leading the way. We believe our proprietary fusion technology is best in class worldwide for producing very large glass substrates with the flatness, pristine surface quality and advanced attributes that our customers require.”

Product Review

Nokia’s 3.1 Plus is an affordable phone that’s crippled by its camera

The Nokia 3.1 Plus is HMD Global’s first smartphone to be sold by a U.S. carrier in-store. It’s only available on Cricket Wireless right now, which underlines its focus on affordability. Should you buy a phone this affordable?

These are the must-have games that every Xbox One owner needs

More than four years into its life span, Microsoft's latest console is finally coming into its own. From Cuphead to Halo 5, the best Xbox One games offer something for players of every type.

Your PlayStation 4 game library isn't complete without these games

Looking for the best PS4 games out there? Out of the massive crop of titles available, we selected the best you should buy. No matter what your genre of choice may be, there's something here for you.
Product Review

Canon democratizes full-frame with the EOS RP, but keep your expectations low

At just $1,300, the RP is Canon's least expensive full-frame camera yet, but it was born into a world of high-end, high-cost lenses where it doesn't yet feel at home.

Take a gander at the best deals on 4K TVs for February 2019

There's no doubt that a good 4K smart TV is the best way to take your home entertainment setup to the next level to enjoy all your favorite shows, movies, and games in glorious Ultra HD. We've got the best 4K TV deals right here.

Don't know what to do with all your old DVDs? Here's how to convert them to MP4

Given today's rapid technological advancements, physical discs are quickly becoming a thing of the past. Check out our guide on how to convert a DVD to MP4, so you can ditch discs for digital files.
Emerging Tech

Awesome Tech You Can’t Buy Yet: Grow veggies indoors and shower more efficiently

Check out our roundup of the best new crowdfunding projects and product announcements that hit the web this week. You may not be able to buy this stuff yet, but it sure is fun to gawk!
Movies & TV

Stay inside this winter with the best shows on Hulu, including 'Legion'

It's often overwhelming to navigate Hulu's robust library of TV shows. To help, we put together a list of the best shows on Hulu, whether you're into frenetic cartoons, intelligent dramas, or anything in between.
Movies & TV

The best movies you’ll find on Hulu right now (February 2019)

From dramas to blockbusters, Hulu offers some great films to its subscribers. Check out the best movies on Hulu, whether you're into charming adventure tales or gruesome horror stories.
Home Theater

They were robbed! From Crowe to Pacino, 10 times Oscar voters got it wrong

With the 91st Oscars rapidly approaching, now is a fine time to look back at several Oscar-worthy performances that were completely ignored by the Academy, as well as others that were nominated and astoundingly denied the little naked…
Movies & TV

The best new movie trailers: Yesterday, Tolkien, Triple Frontier, and more

Everyone loves a good trailer, but keeping up with what's new isn't easy. That's why we round up the best ones for you. This week, it's trailers for Yesterday, Tolkien, Aladdin, Frozen 2, and Triple Frontier.
Movies & TV

'Prime'-time TV: Here are the best shows on Amazon Prime right now

There's more to Amazon Prime than free two-day shipping, including access to a number of phenomenal shows at no extra cost. To make the sifting easier, here are our favorite shows currently streaming on Amazon Prime.
Movies & TV

Best new shows and movies to stream: Deadpool 2, The Umbrella Academy, and more

Need something to watch this weekend? Check out our list of the best new shows and movies to stream right now. On the list this week: Deadpool 2, The Umbrella Academy, Lorena, and more.
Movies & TV

The best movies on Amazon Prime right now (February 2019)

Prime Video provides subscribers with access to a host of fantastic films, but sorting through the catalog can be an undertaking. Luckily, we've done the work for you. Here are the best movies on Amazon Prime Video right now.