Corning Raises Glass Substrate Prices by 20%... Will Display Cost Burden Increase?

Price Increase Starting Q3 This Year
"No Relation to 'Gorilla Glass'"
"Long-term Burden on Display Manufacturers"

American specialty glass company Corning has decided to raise the prices of display substrate glass. This is due to the inability to withstand prolonged inflation and rising energy costs. Corning's decision is expected to increase the raw material cost burden for domestic display companies.

On the 24th, Corning announced that starting from the third quarter of this year, it will apply a 20% price increase across all glass compositions and all product sizes (generations) in all regions.

Display substrate glass is a basic material used in large products including TVs and monitors. A Corning official explained, "This decision has nothing to do with 'Gorilla Glass' supplied to smartphones."

The photo shows the Samsung Display Slidable Flex Duet. [Photo by Samsung Display]

Previously, Corning slightly raised the price of glass substrates in 2021. This price adjustment is a measure to offset the continuously rising energy, raw material, and other operating costs (based on the yen) caused by prolonged inflation affecting most global industries, including the display industry.

The issue concerns domestic display companies such as Samsung Display and LG Display. This decision could increase the raw material cost burden that had just begun to stabilize. The display industry is one of the sectors highly sensitive to raw material price increases, along with home appliances and mobile devices.

An industry insider said, "Since we do not source products from only one place, there will be no immediate impact, but as the price of materials has risen, it could have a long-term effect."

A Corning official stated, "We will continuously monitor the business environment and reflect market conditions, inflation costs, and other industry trends to make future pricing decisions."

Meanwhile, Corning forecasted that display glass demand will grow in the second half of this year, supported by steady recovery in the display industry and seasonal demand.