While Corning's Display Technologies unit, which supplies glass to LCD television makers, continues to be a stellar performer for the company, its telecom unit also saw some gains during the second quarter. The company reported that its telecom segment sales rose to $437 million during the quarter, a 14 percent increase over the first quarter. Overall company sales were $1.4 billion, a 41 percent increase.
Corning attributed the growth of its telecom unit to ongoing demand for optical fiber in China. Likewise, in North America Corning reported an increased demand for its Fiber to the home products from large operators such as Verizon, which saw an increase in its FiOS subscriber base during the second quarter.
"Telecommunications carriers worldwide continue to invest in broadband network expansions, and we are seeing rapid acceptance of our Gorilla glass as a cover glass for many handheld and computer applications," said James B. Flaws, vice chairman and chief financial officer for Corning, in a release.
For more:
- Here's the official release
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