Samsung Electronics to sell fiber-optic business to Corning

Dec. 2, 2014
Corning Inc. (NYSE: GLW) and Samsung Electronics Co., Ltd. have reached a definitive agreement through which Corning will acquire Samsung's optical fiber and fiber-optic cable business. The terms of the agreement were not released.

Corning Inc. (NYSE: GLW) and Samsung Electronics Co., Ltd. have reached a definitive agreement through which Corning will acquire Samsung's optical fiber and fiber-optic cable business. The terms of the agreement were not released.

The acquisition is expected to be completed by the end of the first quarter of 2015, subject to customary closing conditions, including receipt of regulatory approvals.

Samsung supplies fiber and cable in South Korea, China, and Southeast Asia. Corning expects the acquisition will strengthen its hand in these markets. In addition to the various product lines, Corning also will buy Samsung's fiber-optic manufacturing facilities in Gumi, South Korea, and Hainan, China. The facilities will become part of the Corning Optical Communications business segment upon consummation of the deal.

"We are very excited about the growth opportunities in Korea and the emerging economies in Southeast Asia," said Clark S. Kinlin, executive vice president, Corning Optical Communications. "Once we are joined by Samsung Electronics' experienced workforce, I look forward to the team building out Corning's global scale and scope to better meet customer needs for innovative fiber optic solutions."

For more information on fiber-optic cable and suppliers, visit the Lightwave Buyer's Guide.


Sponsored Recommendations

Jan. 30, 2025
With the ongoing drive to support AI and the need for high-speed data center interconnection, the call for higher-speed 800G optical technology is emerging. Initially focused ...
March 25, 2025
Explore how government initiatives and industry innovations are transforming rural broadband deployments, overcoming cost and logistical challenges to connect underserved areas...
March 7, 2025
In today’s hyperconnected world, rolling out and managing profitable, high-performance networks for access and transport will require innovative architectural approaches. The ...
Dec. 9, 2024
As we wind down 2024, Lightwave’s latest on-topic eBook will examine the hot topics for 2025. AI is at the top of the minds of optical industry players supporting...