UPDATE 3-Corning sees smartphone glass sales decline seeping into current quarter [Reuters]
Corning Incorporated (GLW)
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Source: Reuters
Corning sees smartphone glass sales decline seeping into current quarter | Reuters 3 Min Read (Reuters) - Corning Inc ( GLW.N ) on Tuesday reported a drop in sales at its screen glass unit for the first time in at least four quarters, and said it expects the weakness to spill into the current quarter, adding to growing market jitters about demand for high-end smartphones. Shares of the specialty glass maker, whose Gorilla glass became the screen of choice for many smartphones including Apple Inc’s ( AAPL.O ) iPhone and Samsung’s ( 005930.KS ) Galaxy, were down about 3 percent in morning trade. “Soft Apple and a broader slowdown in front of new smartphones launched in Asia caused the weakness in specialty material (the unit that makes Gorilla Glass),” Oppenheimer & Co analyst Andrew Uerkwitz said. At least two other Apple suppliers - contract chipmaker Taiwan Semiconductor Manufacturing Co Ltd ( 2330.TW ) and chipmaker AMS ( AMS.S ) - have pointed to soft demand from smartphon
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