Our Strategy | Investor Relations | Corning

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Our sustained commitment to R&D yields the innovations that give us our competitive advantage-leading to privileged customer relationships, more intelligent products and processes, and our continued growth.

Investing in Our Future

Investing in Our Future

The Strategy and Capital Allocation Framework announced in October 2015 focuses our portfolio on a set of reinforcing capabilities with strong inter-connections.

We are best-in-the-world in 3 Core Technologies, 4 Manufacturing & Engineering Platforms, and 5 Market-Access Platforms. Our probability of success increases as we apply more of these world-class capabilities. Our cost of innovation declines as we reapply talent and leverage our existing assets. Additionally, by combining capabilities, we create higher and more sustainable competitive barriers.

Focusing our portfolio means we direct 80% of our resources to opportunities that use existing capabilities from at least two of our three focus areas.  Few competitors can match our expertise in any one of our focus capabilities, when we combine them, we can create market-leading positions and margins.

The Framework builds on the already high return we receive on our innovation investments. For example, over the last few years, we’ve invested in research and development at double the rate of our peers. On average, they’ve invested 4% of sales while we have invested 9% of sales.  But we have delivered more than two times the operating margin, or 18% versus their 8% average. Said another way, our additional $1.3 billion investment in RD&E returned an additional $2.5 billion dollars over a three-year period. That is a huge premium.

Of course, we recognize that Corning is the natural leader for some great opportunities that do not require multiple capabilities. Our framework allows us to apply up to 20% of our resources to these opportunities. However, we know that those initiatives are riskier, so we only pursue them if the potential payoff is exceptional.

Going forward, we will re-apply our talent and leverage our manufacturing and market access platforms, to receive an even higher return.

Innovation Opportunities

Innovation Opportunities

We pursue growth by innovating continuously, at all stages of a product lifecycle. These are some opportunities we are working on:

Larger, thinner LCD displays

As the consumer demand for larger, thinner LCD displays grows, Corning is well positioned to address the opportunity with a combination of manufacturing efficiency and capacity, outstanding product and process innovation, and market leadership. We’ll answer the trend of increased digital collaboration across devices with the latest LCD glass displays for touch devices worldwide.

More effective vehicle emissions control technologies

As drivers seek greater fuel economy and engine performance, gasoline direct injection (GDI) engines are growing in popularity. At the same time, new real-world-driving emissions standards will enforce a reduction of the particulates generated by these engines. Corning® DuraTrap® GC filters stand ready to meet this challenge. They help cut down on particulates, with lowest impact to pressure drop and thermal mass, in order to enable the most efficient use of fuel and horsepower. Corning continues to gain platform wins with major OEMs for this outstanding emissions reduction technology solution.

Extending Corning® Gorilla® Glass into adjacent markets

We’re exploring the impact Gorilla Glass can have in many areas, including automotive and architecture. Already, we’ve earned BMW’s supplier innovation award for our lightweight automotive Gorilla Glass, introduced the first ever Corning® Gorilla® Glass auto windshield on the Ford GT and announced a joint venture with Saint Gobain to commercialize Corning® Gorilla® Glass for auto glazing applications. Designers of connected and autonomous vehicles are inclined to increase the use of glass and touch screens in auto interiors, as evidenced by the debut of Gorilla Glass interior applications at the Paris Auto Show in the fall of 2016. Gorilla Glass provides a unique path to deliver curved designs cost effectively, and provides a great new opportunity for Corning. 

Additionally, Corning experts spent four days at CES 2017 explaining the advantages of Corning® Gorilla® Glass for Automotive to a steady stream of visitors. The exhibit showcased Corning’s interior and exterior auto glass solutions that included an elegant, curved center console and a tough Gorilla Glass windshield, both offering connected car technologies

Our Innovation Model

Our Innovation Model

Corning has a long track record of recognizing and capturing growth opportunities – especially disruptive opportunities. Every one of our five market-access platforms began with a disruptive innovation, and we have leveraged those initial disruptions to build valuable relationships, brands, and insights. Looking ahead, we are continuing to leverage each of our market-access platforms to seize more opportunities for disruptive innovation and growth.