Gorilla Glass manufacturer Corning revamped its business around five key divisions, with a closer focus on consumer electronics, fixed and mobile network units, as it seeks to benefit from broader synergies across all its divisions.
The new divisions, termed Market-Access Platforms (MAPs) are mobile consumer electronics; optical communications; automotive; life sciences; and display.
Its Display and Telecommunications products generated revenue of $3.2 and $4.1 billion respectively in 2019, and have consistently been Corning’s top earners. Within its Speciality Glass products, Gorilla Glass alone reaped $1.2 billion of the unit’s $1.6 billion total.
In addition to supplying Gorilla Glass to smartphone OEMs, it is also involved in providing screens for smartwatches, tablets and laptops. Its telecoms output involves optical fibre for fixed and mobile networks.
In a statement, chairman and CEO Wendell Weeks explained the reorganisation would drive growth by “activating the full power of our cohesive portfolio”. However, it won’t change it’s financial reporting segments.
As part of the revamp, Corning promoted former EVP Eric Musser to oversee the new divisions in a freshly-created role as president and COO. Weeks praised Musser as a “transformative leader with a strong track record of execution across the company”.
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