May 14th 2017
By Mike Flaminio
Earlier this month, Apple announced it was investing $1 billion in advanced manufacturing in the United States. Late last week the company announced the first installment of that investment in Corning. The $200 million investment aims to advance glass production, which the company uses in its mobile devices. Corning is the maker of the widely used Gorilla Glass.
The investment will support Corning's R&D, capital equipment needs and state-of-the-art glass processing. Corning's 65-year-old Harrodsburg facility has been integral to the 10-year collaboration between these two innovative companies and will be the focus of Apple's investment.
Apple has made investments in partners in the past. In fact, it may be almost normal for Apple to purchase capital to support its needs. Apple here seems to be leveraging these practices for some good PR as it recently has come under scrutiny over its overseas manufacturing and tax schemes.