The "population" for Corning's screen-protecting product Gorilla Glass has exceeded one billion. Ever since its debut in the original iPhone, Gorilla Glass has spearheaded earnings for Corning, who reported third-quarter sales of $2.04 billion. Gorilla Glass is now protecting 900 product models, as well as covering 33 major brands such as Acer, Apple, Dell, HTC, Motorola, Nokia, Samsung and Sony.
Although sales enjoyed an increase of 7 percent when compared to the previous quarter, Corning is one of the many firms that has felt the affects of the global economic recession. Sales have been down by 2 percent year-over-year, with "modest" job cuts scheduled.
"The weakening economy is affecting sales in many of our businesses," said Corning's Vice Chairman and Chief financial officer James B. Flaws.
"In order to deliver on our plan to grow earnings, we are likely to implement selected cost reductions in the areas of project spending, capital expenditures, and fixed costs, which may include modest headcount reductions."
Corning, however, is looking to the future with its Willow Glass and not Gorilla Glass 3. The former is designed to be paper-thin and flexible, as well as allowing for curved surfaces. Corning said it expects Willow Glass to "revolutionize the shape and form of next-generation consumer electronics technologies."
