Apple Funds Corning worth $200 Million to Produce Next Gen iPhones

It is no news that the smartphone market is booming with efficient innovations on a regular scale. Due to this, all manufacturing companies are striving hard to stand out in this cut-throat competition. Some companies claim to be easy on the pocket, whereas others try to sell on their dominant features. Despite all the debutant companies coming up in this market, there is a manufacturer which has created a brand identity for itself. We can safely say that Apple Inc. is one of the companies that rules the competitive market since a while. There was a time when only Apple offered the best features available in a smartphone. Now there are numerous companies that provide equivalent features at a comparatively affordable price. This has made Apple popular mainly as a status symbol. To prove its worth in the market once again, Apple funds Corning to improve iPhone durability.

Established more than 150 years ago, Corning Incorporated has earned itself an identity of being the world leader in terms of specializing in the production related to glass and ceramics. The company not only has tremendous experience but also keeps up with scientific advancements to manufacture products with the help of engineering knowledge. This gives us a clear idea as to why Corning was a logical choice for Apple. Apart from its expertise, Corning has also worked closely with Apple in the past. For almost a decade, both the companies worked together to produce a chemically strengthened glass, especially for the iPhone. This resulted in the manufacture of the Gorilla Glass, which is adapted by almost all smartphone manufacturers these days.

Apple-funds-Corning

The news about Apple funds Corning was out on Friday.

 Apple funds Corning and its motives

The news about Apple funds Corning was out on Friday. This was after Apple CEO Tim Cook announced last week that the smartphone giant has come up with a $1 billion fund to inculcate advanced manufacturing jobs in the U.S. Therefore this recent investment is also related to the fund declared recently. Apple further stated that the funding will be used for research and development in Corning. This will result in fulfilling the equipment needs of the company along with state-of-the-art glass processing. The company will develop its technologies further and not just produce the usual Gorilla Glass. The CEO of Corning, Wendell Weeks said that the Apple investment will benefit the company’s major production facility in Harrodsburg in Kentucky.

Both the companies are confident that after Apple funds Corning, they will make the most out of this investment. This is because the companies have worked together right from the time the first iPhone was produced. Also, these companies have created almost 1,000 jobs in the U.S. since 2007. Therefore it will be smoother for the companies to carry out work in synchronization. Even though Apple claims that this investment is for the production of better glass for iPhones and iPads, rumors suggest something else. A buzz is doing the rounds that through this deal, Apple might introduce wireless charging and augmented reality features in the iPhones. However impressive these rumors might sound, nothing can be confirmed as long as the company doesn’t justify the news.

Carrie Ann
Carrie Ann is Editor-in-Chief at Industry Leaders Magazine, based in Las Vegas. Carrie covers technology, trends, marketing, brands, productivity, and leadership. When she isn’t writing she prefers reading. She loves reading books and articles on business, economics, corporate law, luxury products, artificial intelligence, and latest technology. She’s keen on political discussions and shares an undying passion for gadgets. Follow Carrie Ann on Twitter, Facebook

Recent Posts

Moderna vaccine more effective than Pfizer, study says

Moderna vaccine more effective than Pfizer, study says

Moderna’s Covid-19 vaccine does a slightly better job of preventing coronavirus-related hospitalizations and emergency department visits.
13 hours ago
iPhone 13 and iPhone 13 Pro: Specifications, Release Date, Features and much more

iPhone 13 and iPhone 13 Pro: Specifications, Release Date, Features and much more

Apple iPhone 13 Pro and iPhone 13 Pro Max can be a hit with its ever new technology A15 Bionic chip and other cool profound features.
2 days ago
Total signs $27 billion energy deal to fund 1-gigawatt solar power plant

Total signs $27 billion energy deal to fund 1-gigawatt solar power plant

The French oil major, Total, has signed a $27 billion deal to fund a 1-gigawatt solar power plant, and boost oil and gas production in the Middle-East region.
2 days ago
PMI seals $1.51 billion takeover of British inhalation specialist Vectura

PMI seals $1.51 billion takeover of British inhalation specialist Vectura

Philip Morris International (PMI) acquires a 22.6% stake in British inhalation specialist Vecutra closing in on the controversial $1.51 billion takeover.
3 days ago
Apple co-founder Steve Wozniak joins the space race

Apple co-founder Steve Wozniak joins the space race

Wozniak, popularly known as “Woz”, is setting up a private space company with Ripcord co-founder Alex Fielding. In a tweet, Wozniak shared a promotional video for the company c
4 days ago
Auto chip shortage affects its production; factory closures rise

Auto chip shortage affects its production; factory closures rise

Automakers like Peugot, Ford, and Toyota are on the run to regain high-margins from the auto chip making since the pandemic and weather disasters have taken over.
4 days ago