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Apple invests $200 Million in Gorilla glass producer Corning Incorporated

cjmagowan  —  1 year ago ( May 14, 2017 )    |    News

Corning and Apple has stayed in good partnership since the original iPhone was released a decade ago. While Corning isn’t exclusively distributing its product to Apple but the Cupertino giant invested so much to the company for research and development. For the future of these two companies working together, Apple announced that it’s investing $200 Million for Corning Incorporated for its continued R&D, capital equipments and state-of-the-art glass processing.

Corning is a great example of a supplier that has continued to innovate and they are one of Apple’s long-standing suppliers. This partnership started 10 years ago with the very first iPhone, and today every customer that buys an iPhone or iPad anywhere in the world touches glass that was developed in America. We’re extremely proud of our collaboration over the years and we are investing further with Corning who has such a rich legacy of innovative manufacturing practices.

– Jeff Williams, Apple CFO

The Apple initiative isn’t new to both company and the latest moved is a part of Apple’s $1 Billion investment for its new Advanced Manufacturing Fund. The move was announced by Apple CEO Tim Cook and is directed towards its US-based manufacturing companies. Cupertino claims that it will benefit 2 Million jobs in the US which accounts for at least 450,000 jobs from its supply chain.

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SOURCEFone Arena