according to foreign media coverage of science and technology, samsung corning and reach an agreement, which will in the next decade, as samsung to provide adequate supply of liquid crystal display panel glass.
according to the agreement announced on Tuesday, according to corning will buy back its wholly owned subsidiary company, joint venture with Samsung non-listed subsidiary of Samsung Display “Samsung corning precision materials company”. The joint venture company, founded in 1995, the main liquid crystal display (LCD) panel business.
it is understood that after the agreement has been signed, Samsung Display will receive corning newly issued $1.9 billion worth of convertible preferred stock, and will take $400 million corning new convertible preferred stock. The convertible preferred stock can let samsung eventually will receive a 7.4% stake in corning become the largest shareholder.
corning as the world’s leading liquid crystal display panel glass manufacturers, for many, including apple, provide products OEM. Though samsung and corning to reveal more details, but the two sides in the future will be cooperation in product development strategy and business plan. Analysts believe that the move is greatly beneficial to samsung in the smartphone and tablet manufacturing production differentiation with the apple products.