NEW YORK: Apple Inc chose Corning as the recipient of the first investment from its Advanced Manufacturing Fund, giving US$200mil to the maker of glass used in iPhone and iPad screens.
Corning Inc, a long-time Apple partner, will use the cash on equipment and glass-processing technology mainly at its Harrodsburg, Kentucky, facility that developed the protective Gorilla Glass used on smartphones, Apple said in a statement. Some of the money will also go toward research and development costs. Corning’s partnership with Apple started 10 years ago with the first iPhone.