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Corning Reiterates Projections for LCD Glass Business

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CORNING, N.Y., March 21 -- Corning Inc. reaffirmed that it expects annual revenue growth for its liquid crystal display (LCD) glass business of up to 20 to 40 percent, based on anticipated trends.

In a presentation before the 2003 Display Industry Investment Conference in New York City, Donald B. McNaughton, vice president of Corning's Display business, told investors that the business growth drivers include a dramatic increase in the market penetration of LCD desktop monitors, continuing growth of notebook computers and the emergence of LCD television.

McNaughton said Corning believes that more than 70 percent of all desktop computer monitors will be LCD by 2006. He added, "Due to the popularity of LCD monitors on the desktop, LCD penetration is likely to reach 40 percent this year, compared to 28 percent in 2002. In addition, notebook computers, all of which have LCD screens, continue to appeal to more users and should grow to represent 25 percent of all new PCs sold this year."

He also noted that while current worldwide glass demand for all LCD applications is about 200 million square feet per year, the increasing popularity and larger sizes in LCD televisions and desktop monitors could result in the quadrupling of that volume by the end of the decade.

McNaughton said Corning has a strong technology position and will continue to invest in its fusion manufacturing process, a Corning invention. He said, "Our glass enables thinner and lighter displays, which is particularly important for notebook computer applications. Our fusion process delivers glass with a pristine surface, critical as a foundation for the display transistors."

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Mar 2003
ConsumerenergyindustrialNews & Features

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