India's leading device manufacturer brings Gorilla Glass to
value-segment devices
CORNING, N.Y.;
FEBRUARY 8, 2017 - Corning Incorporated (NYSE: GLW) today
announced that it has collaborated with Micromax for its Vdeo
smartphones, designed for the "value-segment" consumer. The
recently launched devices are among the first across India's mobile
phone entry segment to incorporate Corning® Gorilla® Glass to help
protect against damage.
"Value-segment smartphone customers typically
spend a significant portion of their income buying a device," said
John Bayne, vice president and general manager, Corning Gorilla
Glass. "Many of these first-time smartphone users simply cannot
afford to repair or to replace a damaged device. That's why it's
essential to protect these devices with a material such as tough,
damage-resistant Corning Gorilla Glass."
A recent consumer poll* conducted in India, which
is the second largest smartphone market in the world, highlights
the needs of India's critical value-segment smartphone category
predominantly serviced by devices ranging in price from Rs 5,000 to
Rs 10,000 ($75 to $150).
The study focuses on the participants'
expectations and performance of devices they currently own.
Highlights of the study results include:
- Approximately 58% said that their smartphone is
the most expensive thing that they carry with them daily, and their
single biggest worry is damaging their device. Also, 68% of
respondents said they worry about dropping and breaking their
screen.
- Over 65% of value-segment smartphones are
reported to have significant screen damage with more scratches per
device than consumers in other segments.
- When they do replace their smartphones, the
majority (52%) said that they plan to spend almost the same amount
on a new device as their current one, but expect it to have better
functions and capabilities.
Bayne added, "For all mobile phone consumers,
their device is critical. It is often the most valuable thing they
carry on their person every day and something they use not just to
communicate but, in many cases, as their primary access to
information. We are thrilled that Micromax - one of India's premier
device manufacturers - has designed Gorilla Glass into its Vdeo
smartphones to give value-segment users the protection that they
not only need, but they deserve. This level of performance is not
possible with other material options."
"It is important for the entire ecosystem to come
together to deliver a compelling and complete solution to consumer
needs. With the Micromax Vdeo range we have broken the perception
that a durable, high-quality display is limited to premium
devices," said Shubhajit Sen, chief marketing officer, Micromax.
"We believe our continued collaboration with Corning will help
propel adoption of smart phones with consumers in the value
segment."
The Vdeo range of smartphones are designed keeping
in mind the basic needs that Indian consumers demand from their
smartphones and are fully loaded with best-in-class features for an
entry level Smartphone - including 4G VoLTE, Android Marshmallow,
great battery performance, HD display and housed in a premium and
stylish metal body.
Leveraging its strengths in glass science and
fusion manufacturing, Corning leads the cover glass industry it
created nearly 10 years ago. Corning Gorilla Glass has been used on
nearly 5 billion devices worldwide, including more than 1,800
product models across 40 major brands.
*The consumer poll was conducted
across four cities in India, using an online survey, with over
1,200 smartphone users responding. The research was conducted
through a combination of online polling and secondary analysis by
ValueNotes Research in India.
Forward-Looking and Cautionary
Statements
This press release contains "forward-looking statements" (within
the meaning of the Private Securities Litigation Reform Act of
1995), which are based on current expectations and assumptions
about Corning's financial results and business operations, that
involve substantial risks and uncertainties that could cause actual
results to differ materially. These risks and uncertainties
include: the effect of global political, economic and business
conditions; conditions in the financial and credit
markets; currency fluctuations; tax rates; product demand
and industry capacity; competition; reliance on a concentrated
customer base; manufacturing efficiencies; cost reductions;
availability of critical components and materials; new product
commercialization; pricing fluctuations and changes in
the mix of sales between premium and non-premium products; new
plant start-up or restructuring costs; possible
disruption in commercial activities due to terrorist activity,
armed conflict, political or financial instability, natural
disasters, adverse weather conditions, or major health concerns;
adequacy of insurance; equity company activities; acquisition and
divestiture activities; the level of excess or obsolete inventory;
the rate of technology change; the ability to enforce patents;
product and components performance issues; retention of key
personnel; stock price fluctuations; and adverse litigation or
regulatory developments. These and other risk factors
are detailed in Corning's filings with the Securities and
Exchange Commission. Forward-looking statements speak only as
of the day that they are made, and Corning undertakes no obligation
to update them in light of new information or future events.
Digital Media
Disclosure
In accordance with guidance provided by the SEC regarding the use
of company websites and social media channels to disclose material
information, Corning Incorporated ("Corning") wishes to notify
investors, media, and other interested parties that it intends to
use its website
(http://www.corning.com/worldwide/en/about-us/news-events.html) to
publish important information about the company, including
information that may be deemed material to investors. The list of
websites and social media channels that the company uses may be
updated on Corning's media and website from time to time. Corning
encourages investors, media, and other interested parties to review
the information Corning may publish through its website and social
media channels as described above, in addition to the company's SEC
filings, press releases, conference calls, and webcasts.
About Micromax
Informatics
Micromax Informatics Limited is the 10th largest mobile brand in
the world (Counterpoint Research) and one of the leading consumer
electronics companies. Over the past decade, Micromax has pioneered
the democratization of technology for the masses by offering
affordable innovations through their products and removing barriers
for large-scale adoption of advanced technologies. The brand
embraces an innovative product portfolio ranging from feature rich,
dual ¬SIM phones, 4G Android smartphones, tablets, smart
televisions, air conditioners and laptops. With successful
operations across India, Russia and other SAARC markets, Micromax
sells more than 3 million mobility devices every month.
About Corning
Incorporated
Corning (www.corning.com) is one of the world's leading innovators
in materials science. For more than 160 years, Corning has applied
its unparalleled expertise in specialty glass, ceramics, and
optical physics to develop products that have created new
industries and transformed people's lives. Corning succeeds through
sustained investment in R&D, a unique combination of material
and process innovation, and close collaboration with customers to
solve tough technology challenges. Corning's businesses and markets
are constantly evolving. Today, Corning's products enable diverse
industries such as consumer electronics, telecommunications,
transportation, and life sciences. They include damage-resistant
cover glass for smartphones and tablets; precision glass for
advanced displays; optical fiber, wireless technologies, and
connectivity solutions for high-speed communications networks;
trusted products that accelerate drug discovery and manufacturing;
and emissions-control products for cars, trucks, and off-road
vehicles.
Media Relations
Contacts:
Brittany Salgado
(607)
377-6370
salgadobm2@corning.com
Sonia Jung
82-2-709-3446
jungsy@corning.com
Investor Relations
Contact:
Ann H.S. Nicholson
(607) 974-6716
nicholsoas@corning.com
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This
announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Corning Incorporated via Globenewswire
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