On May 24, Corning announced that the price of its display substrate glass would be raised by 20%. The global price increase will start in the third quarter of 2023, covering all countries and regions, product combinations and generation sizes.
Corning said the price adjustment was aimed at offsetting rising energy, raw material costs and other non-yen-denominated operating expenses during sustained inflation, which have affected many industries around the world, including the display industry.
Corning expects demand for display glass to grow in the second half of 2023 as the display industry continues to recover and typical seasonal demand drives.
At the same time, Corning will continue to monitor its operating environment and make future price adjustments based on changes in market conditions, costs affected by inflation and other industry trends.
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