financetom
Technology
financetom
/
Technology
/
Corning investigated by EU antitrust regulators over exclusive supply deals with phone makers
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Corning investigated by EU antitrust regulators over exclusive supply deals with phone makers
Nov 9, 2024 11:12 AM

BRUSSELS (Reuters) - EU antitrust regulators opened on Wednesday an investigation into U.S. glass maker Corning's exclusive supply deals with mobile phone makers and raw glass processing companies on concerns that these may exclude rival glass producers from large segments of the market.

The European Commission said it would assess whether Corning abused its dominant position in the global market for glass used mainly in mobile phones.

"We are investigating if Corning, a major producer of this special glass, may have tried to exclude rival glass producers, thereby depriving consumers from cheaper and more break-resistant glass," EU antitrust chief Margrethe Vestager said in a statement.

The EU investigation will focus on exclusive sourcing obligations, exclusivity rebates and clauses requiring phone makers to inform Corning about competitive offers and accepting these offers only if Corning fails to match the price, regulators said.

The probe will also look into Corning's deals with companies that process raw glass that include exclusive purchase obligations and no challenge clauses.

The EU competition watchdog said Corning, which sells a break resistant glass used as cover for mobile phones, tablets and smartwatches under the Gorilla Glass brand, may now offer concessions to address its concerns.

Companies risk fines as much as 10% of their global turnover for breaching EU antitrust rules.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Singapore case against three on AI chip fraud charges adjourned until Aug 22
Singapore case against three on AI chip fraud charges adjourned until Aug 22
Jun 26, 2025
SINGAPORE, June 27 (Reuters) - Singapore's case against three men linked by local media to the illegal transfer of Nvidia's ( NVDA ) AI chips from Singapore to Chinese artificial intelligence firm DeepSeek has been adjourned until Aug 22, the court ruled on Friday. At a hearing on Friday, the prosecution said the police would need more time to review...
SoftBank aiming to become leading 'artificial super intelligence' platform provider
SoftBank aiming to become leading 'artificial super intelligence' platform provider
Jun 26, 2025
TOKYO, June 27 (Reuters) - SoftBank Group CEO Masayoshi Son said on Friday that he wanted the investment group to become the number one platform provider for artificial super intelligence in 10 years time. We want to become the organiser of the industry in the artificial super intelligence era, Son told shareholders at the group's annual shareholder meeting. Son likened...
SoftBank aims to become leading 'artificial super intelligence' platform provider
SoftBank aims to become leading 'artificial super intelligence' platform provider
Jun 26, 2025
TOKYO, June 27 (Reuters) - SoftBank Group CEO Masayoshi Son said on Friday that he wants the investment group to become the biggest platform provider for artificial super intelligence within the next 10 years. We want to become the organiser of the industry in the artificial super intelligence era, Son told shareholders at the group's annual shareholder meeting. Son likened...
Gold price declines alongside a bearish correctional line -Analysis-27-06-2025
Gold price declines alongside a bearish correctional line -Analysis-27-06-2025
Jun 26, 2025
The (Gold) price declined in its last intraday trading, affected by the dominance of the bearish correctional trend on the short-term basis, where it moves alongside a bearish bias line that indicates the continuous selling pressure, and the emergence of the negative signals on the (RSI) increased the pressure, after reaching overbought levels, reinforcing the chances for the continuation of...
Copyright 2023-2026 - www.financetom.com All Rights Reserved