Speciality glass-making giant Corning, also the official glass supplier for Apple, is setting up a a gorilla glass manufacturing facility in the southern Indian state of Tamil Nadu. The construction of the new plant is projected to involve an investment of up to Rs 1000 crore, said a report by The Economic Times on uesday, citing sources. Marking its inaugural entry into the Indian market, the company had initially planned to establish a factory in Telangana, as announced by the state government earlier this year. However, according to new report by ET, the company ultimately chose Tamil Nadu over Telangana, citing its closeness to other key Apple's contract manufacturers such as Foxconn and Pegatron.
Corning's debut in India marks the addition of another significant Apple vendor in the country. As iPhone parts and Apple electronic components are manufactured locally, there is a potential for a reduction in smartphone prices in the foreseeable future.
The signing of the memorandum of understanding (MoU) is likely to take place during the Global Investor Meet (GIM) in January. Although the report didn't specify the exact timeline, it indicated that the construction of the factory is expected to be completed within one year.
Aiming to commence operations in 2024, the facility is likely to hit initial production capacity of 30 million pieces. The Indian factory will process cover glasses for both the front and back panels of smartphones. The joint venture has requested support from the central government and has applied for incentives under the Scheme for Promotion of Manufacturing of Electronic Components and Semiconductors (SPECS).
Earlier in October, ABP Live reported that Corning has signed a joint enture (JV) with homegrown electronics component maker Optiemus to produce finished cover glass for smartphones locally within the country.
This is a first for Corning, New York-hedquartered Corning Inc. where it is partnering with another firm to produce specialised electronics glass. The manufacturing of the cover glass for smartphones will commence in India by the fourth quarter (Q4) of next year, Corning and Optiemus had jointly told ABP Live in Delhi on October 26.
The JV facility will be capable of manufacturing front cover and a back cover, or both 2D design, 2.5D design as well as 3D design. It should be noted that 2.5D design is used to address contoured or curved glass that has a slight curvature at the edges. However, Unlike smartphone makers that have the PLI scheme, there is no incentive-based programme for computer chipsets sector or glass manufacturers.