DISCRIPTION: Corning is leading glass and ceramic manufacturer. Different types of glass they produce are used in high-technologies such as Display Technologies, Environmental Technologies, Life Sciences, Telecommunications and Specialty Materials.
COMPETITORS: Corning competes across all of its product lines with a lot of large and different manufacturers, either domestic or foreign. In Display Technologies Segment the main competitors of Corning are Asahi Glass, Nippon Electric Glass and Avan Strate, Inc. In Telecommunications Segment: Corning competes in producing of optical fiber and cable products with Furukawa Electric/OFS, Fujikura Ltd., Sumitomo Electric, Prysmian Cables & Systems and Draka Comteq. But for hardware and equipment products, their significant competitors are 3M Company (3M), Tyco Electronics, Furukawa OFS, CommScope, and ADC Communications. In Environmental Technologies Segment: Corning competes with NGK, Denso, Ibiden and Emitec. In producing Specialty Materials Segment Corning’s competitors are Schott, Shin-Etsu Quartz Products, Asahi Fine Glass, Carl Zeiss, Nikon, Transitions Optical, Oerlikon, Hoya and Heraeus which make optical material products, general specialty glass/glass ceramic products and ophthalmic products.
COMPETITIVE ADVANTAGE: Innovation is the fundamental part of Corning’s growth, competitive advantage and success. Since 1851, Corning produced and still producing products useful at plenty of industries. Corning are changing the lives of humanity by their commitment to research and development, materials and process expertise.
ALLOCATION OF RESOURCES – VALUE CHAIN: in order to make Corning’s leadership last longer in specialty glass and drive earnings growth, in October 2013 Corning announced it is making several strategic and financial contracts with Samsung Display. That is going to make stronger product and technology partnerships between the two companies. Corning and Samsung Display accomplished this contract on January 15, 2014. The following is a summary of the series of transactions, and the impacts to the Display Technologies segment: Corning gained Samsung Corning Precision Materials’ full ownership. This organization and its assets are combined with Corning’s Display Technologies segment. Corning and Samsung Display achieved their long-term arrangement of LCD display glass supply through 2023. The companies’ strengthened their technology collaborations either on strategic product development or commercialization initiatives.
GENERIC STRATEGY: Differentiation has been Corning’s main generic strategy. As they are world leader in the field of making glass and ceramics, Corning’s purpose is to develop and produce important components of high quality that enable high-technology systems for consumer electronics, mobile emissions control, telecommunications and life sciences.
DRIVERS: Corning’s longstanding Values established them apart from other companies are the stable moral and ethical compass of the company and all-important in guiding their actions. They enable Corning’s managers to deliver superior, long-range economic benefits to their customers, employees and the communities in which they operate.
SUCCESS IN MONETISING VALUE (See Appendix 1)
http://en.wikipedia.org/wiki/Corning_Inc.#cite_note-Corning-Feb-2013-10-K-1 http://www.wikinvest.com/stock/Corning%20%28GLW%29/Competition http://www.corning.com/about_us/faq.aspx
http://edgar.secdatabase.com/2535/130817914000032/filing-main.htm CURRENT STRATEGIES
As the industry of optical fiber, used in telecommunications, shrank in 2001-2002, Corning’s LCD business began to rise. As electronic devices became portable, a new opportunity appeared for Corning: to us Gorilla Glass: a thin, flexible and very strong product invented in 1962 but, surprisingly, shelved for four decades....
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