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Corning, the giant in mobile phone cover glass, has made concessions to the EU in an effort to end the antitrust investigation.
On November 26, the Hong Kong Stock Exchange reported that the European Commission stated on November 25 local time that the usa glass manufacturer corning proposed to cancel its exclusive supply agreements with mobile phone manufacturers and companies processing raw glass sheets, aiming to end the EU investigation and avoid potential hefty fines. Earlier this month, the EU launched an investigation into corning, concerned that the aforementioned exclusive supply agreements might exclude competitors' glass manufacturers from most of the market. The European Commission stated at that time that it would assess whether corning was abusing its dominant position in the global mobile phone cover glass market.