Corning receives $200 million USD from Apple to further R&D efforts
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As part of Apple's new Advanced Manufacturing Fund initiative, the Cupertino company will be throwing $200 million USD at Corning Incorporated R&D to help promote growth and innovation amongst American manufacturers of interest. Corning's signature Gorilla Glass series of screen protectors has become ubiquitous on nearly all smartphones and tablets and is becoming increasingly common on laptops as well. Its latest iteration is Gorilla Glass 5 as found on the recently launched Samsung Galaxy S8 series.
The Apple Advanced Manufacturing Fund will set aside at least $1 billion USD in an attempt to create new jobs in the US. Nearly one-fifth of that total, however, will be going towards just one company. Corning, of course, is a major partner of interest to Apple and the two companies have been working together ever since the first iPhone launched in 2008. There's no doubt that the significant investment will benefit Apple in the long term especially if exclusivity deals are on the table.
Corning created nearly 1000 new jobs in the US over the last 10 years according to its CEO Wendell P. Weeks. Apple, however, supports an even larger external workforce of around 450,000 jobs due to the company's vast partnerships with domestic US-based suppliers.