Corning Incorporated (NYSE: GLW) today announced a significant milestone - delivering its 1 billionth kilometer of optical fiber. The company celebrated with an event at its optical fiber manufacturing facility in Wilmington, North Carolina, the world’s first optical fiber manufacturing facility, which today remains one of the world’s largest.
Corning invented the first low-loss optical fiber in 1970, which helped launch the age of optical communications and ultimately transformed the way the world creates, shares, and consumes information. Since that time, Corning optical fiber has been deployed in hundreds of thousands of networks across the globe, from long-haul and submarine networks to access networks and data centers.
“The invention of optical fiber ushered in a communications revolution,” said Wendell P. Weeks, Corning’s chairman, chief executive officer, and president. “This life-changing innovation began with a group of people who had the audacity to believe it was possible to transmit a beam of light down a hair-thin strand of silica with minimal signal loss. Yet in 1970, I don’t think even our most visionary scientist could have imagined the speed or carrying capacity of today’s fiber – or that Corning would one day be celebrating delivering its 1 billionth kilometer. Today, we continue to transform the way the world connects with ongoing fiber innovations and end-to-end optical solutions. In fact, I believe we’re just getting started.”
In an increasingly connected world, optical fiber is the backbone of telecommunications networks. A single optical fiber link can carry 20 terabits of data per second – enough to support 4 million simultaneous HD video streams – and that capacity is growing. Optical technology has enabled instantaneous video downloads, online gaming, and always-on high-speed consumer services, as well as life-changing applications such as telemedicine, telecommuting, and smart city technology.
With its virtually unlimited bandwidth-carrying capacity, durability, and simple installation techniques, optical fiber will be critical in building next-generation networks and delivering the technologies to enable 4G densification and the transition to 5G, fiber-to-the-home amenities, and advanced business services.
Today, Corning remains the worldwide market leader and is the most widely deployed brand of fiber. Through continued fiber innovation and deep customer relationships, Corning reached the 1 billion kilometer milestone. Keeping its focus on the future, the company will continue to invest in its optical communications business to retain its industry leadership position.
Forward-Looking and Cautionary Statements
This press release contains “forward-looking statements” (within the meaning of the Private Securities Litigation Reform Act of 1995), which are based on current expectations and assumptions about Corning’s financial results and business operations, that involve substantial risks and uncertainties that could cause actual results to differ materially. These risks and uncertainties include: the effect of global political, economic and business conditions; conditions in the financial and credit markets; currency fluctuations; tax rates; product demand and industry capacity; competition; reliance on a concentrated customer base; manufacturing efficiencies; cost reductions; availability of critical components and materials; new product commercialization; pricing fluctuations and changes in the mix of sales between premium and non-premium products; new plant start-up or restructuring costs; possible disruption in commercial activities due to terrorist activity, armed conflict, political or financial instability, natural disasters, adverse weather conditions, or major health concerns; adequacy of insurance; equity company activities; acquisition and divestiture activities; the level of excess or obsolete inventory; the rate of technology change; the ability to enforce patents; product and components performance issues; retention of key personnel; stock price fluctuations; and adverse litigation or regulatory developments. These and other risk factors are detailed in Corning’s filings with the Securities and Exchange Commission. Forward-looking statements speak only as of the day that they are made, and Corning undertakes no obligation to update them in light of new information or future events.
Digital Media Disclosure
In accordance with guidance provided by the SEC regarding the use of company websites and social media channels to disclose material information, Corning Incorporated (“Corning”) wishes to notify investors, media, and other interested parties that it intends to use its website (http://www.corning.com/worldwide/en/about-us/news-events.html) to publish important information about the company, including information that may be deemed material to investors. The list of websites and social media channels that the company uses may be updated on Corning’s media and website from time to time. Corning encourages investors, media, and other interested parties to review the information Corning may publish through its website and social media channels as described above, in addition to the company’s SEC filings, press releases, conference calls, and webcasts.
About Corning Incorporated
Corning (www.corning.com) is one of the world's leading innovators in materials science, with a 166-year track record of life-changing inventions. Corning applies its unparalleled expertise in glass science, ceramics science, and optical physics along with its deep manufacturing and engineering capabilities to develop category-defining products that transform industries and enhance people's lives. Corning succeeds through sustained investment in RD&E, a unique combination of material and process innovation, and deep, trust-based relationships with customers who are global leaders in their industries.
Corning's capabilities are versatile and synergistic, which allows the company to evolve to meet changing market needs, while also helping our customers capture new opportunities in dynamic industries. Today, Corning's markets include optical communications, mobile consumer electronics, display technology, automotive, and life sciences vessels. Corning's industry-leading products include damage-resistant cover glass for mobile devices; precision glass for advanced displays; optical fiber, wireless technologies, and connectivity solutions for state-of-the-art communications networks; trusted products to accelerate drug discovery and delivery; and clean-air technologies for cars and trucks.