Corning's Gorilla Glass, a 1960s invention just waiting for the right time, saw its first quarter sales surge 50 percent sequentially. Now Corning is working to expand the super-strong glass to new markets.
That heady growth indicates that Gorilla Glass is becoming the glass technology cover for a wide range of devices---smartphones, tablets and TVs today.
On its first quarter earnings conference call, Jim Flaws, chief financial officer of Corning, said Gorilla Glass sales were about $150 million in the first quarter.
We continue to believe Gorilla Glass sales could approach $1 billion this year. In fact, since we launched Gorilla sales -- Gorilla Glass four years ago, the first quarter has represented about 15% of the full-year demand. So we feel we are on track with our sales goals.
However, Corning indicated that it didn't plan on stopping at the $1 billion sales mark for Gorilla Glass. Flaws added:
We continue to make progress extending Gorilla Glass into new markets, including an exciting collaboration with. In addition, a major architectural firm announced Gorilla Glass is designed into . The firm exhibited Gorilla Glass just last week at an industry show in Seattle.
Overall, Corning reported first quarter earnings of $748 million, or 47 cents a share, on revenue of $1.92 billion.
This post was originally published on Smartplanet.com