Samsung restructures Corning glass deal to ensure access

10/23/2013 | Reuters

Samsung Electronics' Samsung Display forged a $2.3 billion deal to become Corning's largest shareholder in a move designed to help Samsung keep control of advanced components critical to making mobile and other devices. As part of the agreement, Corning will buy Samsung out of a 1995 partnership dealing with liquid crystal displays, but the companies have signed a new 10-year deal to provide LCDs for Samsung's devices. Corning produces Gorilla Glass, the tough substance found in many mobile devices.

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