Earlier this month Apple announced their new Advanced Manufacturing Fund with a $1 billion investment and now the company has made their first investment from the fund, Corning.
Corning make the Gorilla Glass for many of the smartphones on the market today and Apple has made an investment of $200 million in the company from their $1 billion fund.
Corning have supplied Apple with glass for their iPhones for a long time, they also supply glass to many of the android manufacturers on the market.
“Corning is a great example of a supplier that has continued to innovate and they are one of Apple’s long-standing suppliers,” said Jeff Williams, Apple’s chief operating officer. “This partnership started 10 years ago with the very first iPhone, and today every customer that buys an iPhone or iPad anywhere in the world touches glass that was developed in America. We’re extremely proud of our collaboration over the years and we are investing further with Corning who has such a rich legacy of innovative manufacturing practices.”
The $200 million investment will be used to support Corning’s research and development and also their capital equipment needs, you can find out more details about the investment at the link below.
Source AppleFiled Under: Apple