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Corning Acquires Samsung's Fiber Optics Wing To Strengthen Position In Asia

Corning, best known for producing Gorilla Glass, has acquired Samsung’s fiber optics business. The move is seen as one that’ll enable Corning to get some headway into the ever expanding Asia-Pacific market. If you’ve been following the technology industry since the past year or so, you’d know how much the Asia Pacific market has been growing. Corning’s acquisition comes pretty much on the right time, and the company wouldn’t want to miss out on cashing in on it.

Now, deals of this magnitude usually take longer than you expect to complete, and that’s perhaps why the deal is expected to complete only by the first quarter of 2015. The acquisition will mean that Corning will now own the fiber optics plants that Samsung has in Korea and in China. Corning is only known for its Gorilla Glass series of tempered glass coating solutions in the Asian market. With the Samsung deal going through, Corning, will hoping to make it big on other hardware as well. Asia is being seen as the next avenue by many a maker, and it is no surprise that Corning wants to join in on the party.

If you’re wondering how much it cost Corning to get ownership of the fiber optics plants, well, you’ll be disappointed because Samsung and/or Corning have not made the numbers public yet. You can expect the companies to do so once the deal goes through without any hiccups. “We are very excited about the growth opportunities in Korea and the emerging economies in Southeast Asia. Once we are joined by Samsung Electronics’ experienced workforce, I look forward to the team building our Corning’s global scale and scope to better meet customer needs for innovative fiber optic solutions” said Clark S. Kinlin, executive vice president of Corning Optical Communications. Samsung also added “We have decided to sell our fibre optics business, in order to focus on our core business areas. Wonder what made Samsung let go of its fiber optics division. Could it be the newfound focus on building its own graphics processors? Make sure to leave a comment on what you think of the sale, Corning and Samsung in general.