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Corning Forecasts LCD Growth
Feb 2003
CORNING, N.Y., February 11 -- Corning Inc. said last week that it expects 20 to 40 percent annual revenue growth for its display technologies business through 2006. Peter F. Volanakis, president of Corning Technologies, cited a dramatic increase in the market penetration of liquid crystal display (LCD) desktop monitors, continuing growth of notebook computers and the emergence of LCD television as drivers of the growth. Volanakis made the comments during the company’s annual investment conference in New York City.

Volanakis said Corning expects more than 70 percent of all desktop computer monitors to be LCD by 2006. The popularity of LCD monitors on the desktop will reach 40 percent this year, compared to 28 percent in 2002, he said, and that notebook computers -- all of which have LCD screens -- should represent 25 percent of all new PCs sold this year.

"All of this is good news for our revenues, requiring us to add manufacturing capacity this year," he said.

Corning announced in November that it had begun a major expansion of its Taiwan LCD glass manufacturing facility to install the company’s proprietary fusion technology. This milestone makes Corning’s Taiwan facility its fourth fully-integrated plant in Asia, including two Samsung Corning Precision plants in South Korea. The company said it also plans to have additional capacity running at both its Shizuoka, Japan, and Harrodsburg, Ky., plants this year.

Volanakis also said Corning's semiconductor materials business, which makes optical components for microlithography, will triple in size by 2008, and that its life sciences business will grow more than 10 percent a year through 2008.

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display technologies businessemergence of LCD televisionenergyindustrialliquid crystal display (LCD) desktop monitorsNews & Featuresnotebook computers

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