Apple Invests $250m To iPhone Glass Supplier
Apple has announced it is awarding $250 million from its Advanced Manufacturing Fund to Corning Incorporated, supplier of precision glass for iPhones, Apple Watches and iPads.
Glass for every generation of iPhone, including the latest iPhone 11 range, is made at Corning’s Harrodsburg, Kentucky plant, and the new investment builds on the $200 million the company has already received from Apple in May 2017.
The combined injection of funds will support Corning’s R&D into state-of-the-art glass processes, equipment and materials integral to the delivery of next-gen consumer devices.
“Apple and Corning’s rich history dates back more than a decade, and our partnership revolutionised glass and transformed the technology industry with the first iPhone,” said Jeff Williams, Apple chief operating officer.
“This award underscores Apple and Corning’s shared belief in the vital role that ingenuity plays in creating industry-leading products to solve some of the world’s toughest technology challenges.”
Apple has spent a collective $60 billion with 9,000 American suppliers in 2018, supporting 450,000 jobs in all 50 states and manufacturing locations in 36 states.
Every one of the company’s core products contains parts or materials from the US or is made with equipment from US-based suppliers.
As for Apple’s Advanced Manufacturing Fund, to date, the tech giant has invested over $1 billion in American companies.
In addition to the $450 million now awarded to Corning, other commitments already announced include $390 million to Finisar and $10 million to the Elysis aluminium partnership.
“This Advanced Manufacturing Fund award will allow us to develop ground-breaking new glass innovations, while also expanding our manufacturing capabilities,” said Wendell P. Weeks, Corning chairman, CEO and president.
“Most importantly, our ongoing collaboration allows us to create vital new capabilities for end users and continue pushing the boundaries of what is possible well into the future.”