Corning Incorporated has indicated that the demand for LCD glass will see an increase this year, as a result of robust sales of plasma and LCD TVs, PCs and other handheld devices. The leading glass and ceramics manufacturer also expects over 170 million LCD sets to be sold this year alone, which is a 21% rise when compared to last year. The total volume of glass could reach about 3 billion sq ft from 2.45 billion sq ft and sales and profit could also increase in 2010, the company predicts.
However, the spread of LCD TVs in the United States could see a slowdown, and sales of optical fiber could stall, Corning forecasts. Speaking at an annual meeting with institutional investors and analysts in New York, Chief Executive Wendell Weeks indicated that though there prevailed an uncertainity about the global economy, they were confident of delivering a “strong performance once again in 2010.”
Corning Incorporated holds about 50% market share of LCD glass, as of 2008 and is presently the only “green” glass manufacturing company that produces glass without using heavy metals.
