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Corning Inc. Reports Strong 2013
WENY (CORNING) -- Glass Breakage is the number one complaint from cell phone users. Now Corning Incorporated, recognized as the global leader of Gorilla Glass is planning on releasing a new version later this year, despite the fact that a surplus resulted in a decline in sales.
"Corning has navigated it's latest challenges just like the company has survived countless threats in its 163 year history," said Wendell Weeks, CEO, Chairman, and President of Corning Inc.
Despite a harsh economic climate, Corning Inc. leaders are proud of a strong performance in 2013. They assured shareholders at their annual meeting that the momentum will continue into this year.
"We did what we said we were going to do. We stabilized display, restored earning growth, and we're marching up," said Weeks.
Leaders highlighted the company's ability to innovate. Giving shareholders a sneak peak at their latest glass composition called Willow.
"I'm pleased with the innovation the company is making now. I especially appreciated the technical advances that we got a preview of today," said Gil Mitchell, Shareholder.
Investors also got a look at new windows that go from transparent to opaque, an optical antenna system and Corning Gorilla Glass being used in cars.
"I think there are some enormous opportunities. I'm kind of excited about the antimicrobial glasses too which I think have some great applications and possible things that can be exciting in the long term," said John Heitman, Shareholder.
Corning reported sales of nearly $8 billion in 2013. Their Gorilla Glass is now used by over 33 major brands and can be found in about 2.4 billion electronic devices.