| |DECEMBER 20239TECH MINTCorning Inc., a major supplier to Apple and the US company that makes Gorilla Glass, is investing Rs 1,000 crore to establish a manufacturing plant in Tamil Nadu.About 300 people will be employed by the facility, which will be located on a 25-acre tract close to Sriperumbudur in Pillaipakkam. If necessary, the land can be expanded.This signifies the official arrival of a new Apple supplier in India, supporting both the nation's growing Apple ecosystem and its electrical component producers.The Telangana government announced earlier in September that the corporation has made the decision to invest in the state.However, sources claimed that the state's electronics industry and its proximity to other Apple suppliers persuaded the corporation to choose Tamil Nadu over Telangana.The agreement was finalized and sealed last week, they claimed, adding that the MoU will be signed during the Global Investor Meet (GIM) in January. The talks had been ongoing for some time.Corning Inc., a Fortune 500 materials science business with its headquarters in New York, is the creator of gorilla glass, a stronger glass that is frequently used in portable electronics like laptops, tablets, and mobile phones.For this facility, Corning will collaborate with Optiemus Infracom, its Indian partner.In the third quarter, Corning recorded $3.2 billion in revenue. Its adjusted earnings per share were $0.45 and its core revenues were $3.5 billion. Specialty Materials reported third-quarter sales of $563 million, up 33 percent from the previous quarter. The firm attributed the increase in gorilla glass sales to customer product introductions during the quarter. According to analysts, one of the main factors driving gorilla glass's increase in the quarter was Apple's new iPhone 15 series.Founded more than 170 years ago, Corning is credited with creating the first low-loss optical fiber, glass bulbs for Thomas Edison's electric light, and Gorilla Glass, the first protective covering for mobile devices. CORNING TO MANUFACTURING PLANT IN TAMIL NADUAbout 300 people will be employed by the facility, which will be located on a 25-acre tract close to Sriperumbudur in Pillaipakkam
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