Our Business Segments | Investor Relations | Corning

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Corning offers investors a wide array of market opportunities with diverse capabilities across five reportable segments.

Display Technologies

Display Technologies

Our glass substrates enable the thin, high-resolution, multi-function displays needed for the growing consumer electronics market. Corning is driving advanced glass display technology forward with solutions both scalable and durable.

Product or innovation highlights

Corning® Iris™ glass, which enables thinner displays while replacing plastic light-guide plates, earned the display-of-the-year award at SID 2016.

We created our third-generation, high-performance display glass substrate, Lotus™ NXT, to support high-resolution LCD and OLEDs with LTPS and Oxide backplanes. It offers the best-in-class glass dimensional stability, which is named “Total Pitch Variation”, in panel makers’ high-temperature manufacturing processes. In October 2015 Samsung Display announced that the company would use Louts NXT glass for its line of low-temperature polysilicon (LTPS) organic light-emitting diode (OLEDyep) panels. 

Recent performance, outlook and market opportunities

In the second quarter of 2016, Display Technologies sales were up sequentially. As expected, the worldwide glass market and Corning’s volume increased in the high-single-digit percent range sequentially in the second quarter. Corning’s LCD glass price declines were smaller than those experienced in the first quarter.

In the third quarter of 2016, demand for Corning’s LCD glass is expected to increase by a mid-single-digit percentage sequentially, and the company expects price declines to remain moderate and consistent with the second quarter. 

Environmental Technologies

Environmental Technologies

We develop emissions control products for major vehicle and engine manufacturers. Our ceramic substrates and particulate filters form the core of world-class pollution control systems, making us a leader in clean-air technologies for over 40 years.

Product or innovation highlights

We created FLORA™ technology, a revolutionary system that addresses the problem of cold-start emissions, in which 70 percent of regulated emissions can occur during the first 30 seconds after engine start.

Recent performance, outlook and market opportunities

Second-quarter segment sales were consistent with a year ago and in line with company expectations. High demand for Corning’s automotive light-duty substrates remained strong in the second quarter, while expected softness continued in heavy-duty truck demand in North America and China.

In the third quarter, the company anticipates Environmental Technologies sales will decline slightly on a year-over-year basis due to foreign exchange rates. Demand for light-duty products in the automotive market is expected to remain strong, while weakness will likely continue in the heavy-duty truck market in North America and China. 

Optical Communications

Optical Communications

Our optical connectivity solutions provide high-quality broadband capabilities for Enterprise, Carrier, and Wireless markets, as well as consumer electronic devices. Offering the broadest range of end-to-end fiber optic and copper product solutions for customers’ telecommunications networks, these solutions deliver more bits of information per second at a lower cost.

Product or innovation highlights

Edge8, the industry’s first modular, tip-to-tip optical cabling system to feature an eight fiber cabling design that maximizes per-rack-unit density for better network scalability an improved link performance.

Recent performance, outlook and market opportunities

In the second quarter of 2016, Optical Communication sales rose 28% sequentially as Corning returned to full capacity toward the end of the second quarter following a first-quarter software issue that impacted cable production. Strong demand for fiber-to-the-home and data center solutions drove higher sequential volume in the second quarter.

In the third quarter, Corning expects Optical Communications demand to remain strong and sales to grow approximately 10% on a year-over-year basis. 

Life Sciences

Life Sciences

We supply innovative high-quality tools and research technologies for laboratories working in cell culture, genomics, bioprocessing, and other fields. With our glass and plastic labware, scientists are better able to compress costs and timelines, knowing they can count on Corning for consistent, reliable, repeatable results.

Product or innovation highlights

We are pursuing a very exciting opportunity in Life Sciences. Although it is too early to discuss publicly, we believe it has the opportunity to be a significant new business for Corning, while continuing our track record of life-enhancing technologies.

Recent performance, outlook and market opportunities

On a year-over-year basis, second-quarter segment sales increased by a low-single-digit percentage, and third-quarter sales are expected to grow similarly. Net income was consistent with last year’s second quarter, and above the first quarter due to the higher sales.

Specialty Materials

Specialty Materials

We develop customer-driven solutions for some of the toughest optical challenges. From cover glass for consumer electronics to advanced optics for high-technology industries, our expertise in materials science routinely yields breakthrough innovations like our tough, thin Corning® Gorilla® Glass used on smartphones, tablets, and PCs around the world.

Product or innovation highlights

We recently announced Corning® Gorilla® Glass 5, designed to provide further protection against breakage from everyday drops. We’ve also extended Gorilla Glass into adjacent markets with new automotive and architectural customers and announced our first use of Corning® Gorilla® Glass for Automotive windshields on the Ford GT in late 2015.

Recent performance, outlook and market opportunities

Second-quarter sales grew 17% sequentially, and core earnings increased 50% on the higher volume. On a year-over-year basis, second-quarter segment sales were below company expectations and down 2% from last year’s sales. The mobile consumer electronics industry is experiencing lower smartphone and tablet demand in 2016, driven by worldwide macroeconomic conditions, fewer major product launches, and longer replacement cycles.

Third-quarter segment sales are expected to be consistent with last year’s third-quarter sales, and up sequentially, due to increased Gorilla Glass demand as the mobile device supply chain ramps up for new product launches in the second half of this year.

Full-year sales for Specialty Materials are now expected to be consistent with or down slightly from 2015 versus prior guidance of full-year growth at a mid-to-high single-digit percentage rate.