Corning Expects High Demand For TV Glass

Specialty glass maker expects revenue to grow more than 50 percent in the next three years due to demand for ultra-thin glass used in TV monitors and touch-screen tablets.

ROCHESTER, New York (AP) -- Corning says it expects its annual revenue to grow by more than 50 percent in the next three years to around $10 billion, driven by surging demand for ultra-thin glass used in television monitors and touch-screen tablets.

The specialty glass maker, which is holding its annual investor meeting Friday, is the world's biggest maker of liquid-crystal-display glass for flat-panel TVs and computers.

The company predicts the global appetite for LCD-TVs and mobile devices will drive an anticipated leap in LCD-glass industry volume to around 5 billion square feet (0.46 billion square meters) in 2014 from more than 3 billion square feet (0.28 billion square meters) now.

Corning shares rose 30 cents, or 1.3 percent, to $22.87 in pre-market trading.

Based in western New York, Corning accounts for more than 60 percent of the LCD glass market.
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