Apple Awards Corning First Advanced Manufacturing Fund Investment

Discussion in 'MacRumors.com News Discussion' started by MacRumors, May 12, 2017.

  1. MacRumors macrumors bot

    MacRumors

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    Apple today announced that Corning, the makers of Gorilla Glass, will be the first major benefactor of its $1 billion Advanced Manufacturing Fund, which was announced by Apple CEO Tim Cook earlier this month.

    Corning is a long-time Apple Supplier, and its Gorilla Glass products have been used in the iPhone and the iPad for several years. Corning Incorporated will receive $200 million from Apple's new fund, which aims to foster innovation among American manufacturers and lead to more U.S. jobs. The investment will support Corning's research and development, capital equipment needs and state-of-the-art glass processing, according to Apple's press release.

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    Apple said Corning's 65-year-old Harrodsburg facility in Kentucky has been integral to the 10-year collaboration between the two companies and will be the focus of its investment.
    Since the founding of Gorilla Glass in 2007, the partnership has created and sustained nearly 1,000 U.S. jobs across Corning's R&D, manufacturing and commercial functions, according to Apple, including over 400 in Harrodsburg. Corning is said to have procured enough renewable energy to cover all of its Apple manufacturing in the U.S.

    Article Link: Apple Awards Corning First Advanced Manufacturing Fund Investment
     
  2. gnasher729 macrumors P6

    gnasher729

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    #2
    That's quick. Usually you have a big announcement, and then nothing happens for ages, and then everything forgets about it, and still nothing happens. In this case, Apple promised to invest $1bn, and now they've done the first 20% of that plan already. Good job.
     
  3. meaning-matters macrumors 6502

    meaning-matters

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  4. JGRE macrumors 6502a

    JGRE

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    #4
    Hope that the future iPhone glass breaks less......
     
  5. ButteryScrollin macrumors 6502a

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    #5
    So Corning has a facility in Kentucky and not Corning, NY?
     
  6. yanksfan114 macrumors regular

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    #6
    The under-the-glass fingerprint scanner yields increased I guess!


    /s
     
  7. Pupi macrumors regular

    Pupi

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    #7
    Can't break less than the zero times it broke in my 8 years of iPhone ownership, since the 3GS.

    However I don't think it will be unbreakable either.
     
  8. jaymie1983 macrumors member

    jaymie1983

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  9. Solomani macrumors 68030

    Solomani

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    #9
    A seriously good investment. Nothing else to be said.
     
  10. InfoTime macrumors 6502

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    #10
    Corning needs the investment??? It's not like they're some new startup.
     
  11. Wowereit macrumors 6502a

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    #11
    Hopefully people will finally understand that the Ion Glass Apple uses is just Gorilla Glass and stop doing stupid comparisons between 2 identical products
     
  12. NT1440 macrumors G4

    NT1440

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    #12
    It's not "just" Gorilla Glass, because Gorilla glass is a spectrum of glass products tuned to a given OEM's requirements (in this case the ion bath for surface tension is what makes it the Ion-x branding Apple uses). "Just" Gorilla glass leaves one with the impression that it's all one monolithic product when Gorilla Glass is technically the umbrella brand name that Corning uses.
     
  13. cfedu macrumors 65816

    cfedu

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    #13

    Sapphire display was never going to happen at a price point that was commercially feasable at the scale that apple requires. I'm suprised Apple took so much risk in that endeavor.
     
  14. Avieshek, May 12, 2017
    Last edited: May 12, 2017

    Avieshek macrumors 6502

    Avieshek

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    #14
    The iPhone 7 has been a lot scratching lately like the Chinese products of Vivo & Oppo. Hope, Apple uses Gorilla Glass first instead of Chinese Solutions these days.
     
  15. Kaibelf macrumors 68000

    Kaibelf

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    #15
    Unlike GT, Corning doesn't lie about what they are able to produce.
     
  16. rolsskk macrumors 6502

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    #16
    But when you want your supplier to do some specific R&D focus on a product that'll directly benefit you, a little investment that'll hire more people can't hurt.
     
  17. dmunz macrumors regular

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    #17
    As both a user and shareholder I think this is great news.

    To gnasher's comment, speed is exactly the point of this fund. Let's pump the money out and make things happen. It is also, peripherally, designed to promote work in the US. Corning probably has boxes of money but they aren't going to just ramp up and hire. However, if they can use Apple's money it changes the maths.

    The other motivator here is to show the US government that Apple is willing to invest inside the border and push them to allow repatriation of money held overseas at more favorable tax rates. (So this is marketing as well as production...)

    FWIW
    DLM
     
  18. citysnaps, May 12, 2017
    Last edited: May 12, 2017

    citysnaps macrumors 68020

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    #18
    There is nothing to worry about. Apple and Corning have been working together for 10 years. Corning, a highly respected company in business since the 1850s, is old school with demonstrated expertise over a wide range of technologies developed over the years. It was Corning who manufactured the 200 inch telescope mirror at the Palomar Observatory in the 1930s.

    GT Advanced overpromised and underdelivered. Corning, employing more that 30,000 people and with revenue around $9 billion, and GT Advanced, could not be more different.
     
  19. JeffyTheQuik macrumors 68020

    JeffyTheQuik

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    #19
    I don't know... it just isn't the same since they stop using real gorillas to make their glass.
     
  20. Return Zero macrumors 6502

    Return Zero

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    #20
    This is great news. Corning is a solid company that has proven itself over the years. I live very close to Harrodsburg and have several friends who work at the facility there. While $200M may not sound like a lot in the grand scheme of things, it will be a big shot in the arm to our relatively small (but growing) community. Hopefully it will mean a few more jobs and a lot more R&D to make better stuff!
    --- Post Merged, May 12, 2017 ---
    This isn't a venture capital fund. It's an advanced manufacturing fund. Corning is well-deserving of this investment and will almost certainly be able to provide better products because of it. Don't be fooled; Apple isn't exactly playing the risk game with their money here. They are simply doing what's in their best interest (it happens to be a win-win here).
     
  21. meaning-matters macrumors 6502

    meaning-matters

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    #21
    Could there be nice tax benefits calling this an investment instead of simply buying stuff from Corning?
     
  22. azentropy macrumors 68000

    azentropy

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    #22
    Yeah, thought that was a little weird myself. I won't complain too much though since I own a bit of GLW (Corning) stock. :)
     
  23. Sasparilla macrumors 6502a

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    #23
    Nice to see this.

    >> Corning is a long-time Apple Supplier, and its Gorilla Glass products have been used in the iPhone and the iPad for several years. <<

    Corning has been there since the original iPhone, which was supposed to have had a plastic display until Apple leadership (Jobs is pointed to here, but of course someone else may have pointed him to it) at the time saw what car keys would do to it in a pocket during normal use, setting off a scramble for something better but still deliver the phone on time - Corning delivered.

    The scale of production needs Apple requires of its suppliers is unreal (massively large) and Apple often fronts them money to get their production infrastructure up, scaled and ready sooner than they would be able to otherwise (or push the technology along), Apple gets benefits from this making it worth while to both companies.
     
  24. Jsameds macrumors 68030

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    #24
    Buy a decent case if you're prone to dropping stuff.

    Accidents happen, I've dropped my 6S more times than I can remember and there's not so much as a scratch on it because I've got a decent case.
     
  25. kazmac macrumors 601

    kazmac

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    #25
    Glad to hear, makes sense since Corning has always been a part of the iPhone.
     

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