New Delhi: Corning, the global leader in specialized glass manufacturing for electronics, has exciting news to share: a groundbreaking collaboration with Optiemus Infra to establish a cutting-edge cover glass production facility in India. This venture is set to receive a whopping investment of Rs 1,000 crore and is primed to kickstart production in the fourth quarter of the upcoming year.
Renowned as a vital supplier to tech giants such as Apple, Samsung, Xiaomi, Vivo, and Oppo, Corning is taking its first significant step into Indian manufacturing, focusing exclusively on glass production. But their ambitions stretch far beyond mobile phones, as they intend to serve an array of sectors, including notebooks, tablets, and smartwatches. John Bayne, the senior VP and GM for Corning’s Mobile Consumer Business, enthusiastically revealed that they’re gearing up to cater to both the local and global smartphone market, with a potential for exports.
Initial production capacity of 30 million units, backed by applications for incentives under India’s scheme to foster electronic component and semiconductor manufacturing. But here’s the twist: the joint venture with Optiemus will have a 70:30 ratio, making Optiemus the dominant partner in this remarkable endeavour.
Corning’s decision to set up shop in India is driven by the compelling need to diversify supply chains and relocate manufacturing operations from China, as stated by John Bayne. This partnership is poised to roll out 30 million units during the first phase, not to mention the exciting prospect of generating jobs for 500-1000 individuals. This is more than just a manufacturing move; it’s a strategic leap towards innovation and growth in India’s tech ecosystem.
The joint venture has its sights set on delivering top-tier components at an identical level of quality and cost efficiency while slashing those cumbersome logistics and shipping expenses. And that’s just the beginning! As this venture gathers momentum, Corning is gearing up to introduce glass-sheet manufacturing and glass-melting capabilities right here in India, signalling a monumental stride towards self-sufficiency and innovation.
