Samsung Electronics has signed a 10-year supply agreement with Corning, the maker of Gorilla Glass, to ensure access to all of Corning’s existing and future technologies.
The agreement is part of a series of deals between Samsung’s Display unit and Corning. The latter is taking full control of the Samsung Corning Precision Materials joint venture in a deal that’s currently valued at $1.9 billion. Samsung is also investing another $400 million in Corning.
Samsung believes that Corning’s technologies will become increasingly important to the consumer electronics industry and it wanted ensure access to those, Corning CEO Wendell Weeks, said during a conference call regarding the deals.
Gorilla Glass is used to protect smartphone, tablet and laptop displays from scratches. But the company is also working on a number of other announced and unannounced technologies that prompted Samsung to strengthen product and technology collaborations between the two companies, according to Weeks.
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