Corning Launches Ultra-Slim Flexible Glass While Market Shrugs

by Trefis Team
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Corning (NYSE:GLW) has announced the launch of an ultra-slim flexible glass named Corning Willow Glass. [1] The launch comes at a time when Corning’s Gorilla Glass continues to dominate as a display surface used in smartphones, tablets, LCDs, PCs and laptops, because of its thinness and high sensitivity to touch. However, the newly launched Willow glass surpasses the market leading Gorilla Glass on many fronts, particularly thinness and flexibility.

We have a Trefis price estimate of $17 for Corning, around 25% above the current market price.

See our full analysis of the Corning stock here

Even thinner

The Corning Willow Glass is produced using the company’s proprietary fusion process making it possible to make glass that is 0.1mm thick, about the thickness of a sheet of paper. As a result, the glass can support even thinner back-planes and, if adopted, would help make smartphones, tablets, laptops and other display devices thinner.

Flexible

The glass can bend to form curved display surfaces. Also, its strength allows it to be wrapped around structures for all-round viewing. This feature offers several design possibilities in the current line of display devices including, smartphones, TVs, LCDs, tablets and laptops.

Potential to become a market leading display surface

The ultra-slim and flexible features of Corning Willow glass make it a potential market leading display surface of the future. The company is currently providing samples of the glass to customers in display and touch applications. While Corning Willow has currently been launched as an advanced display surface, the company is exploring further applications of the glass in solar and lighting applications.

Gorilla and Willow Glass are part of the specialty materials division in the Trefis model for Corning Inc. The division primarily competes with Nippon Electric Glass (TYO.5214), Asahi Glass (PINK.ASGLY) and AvanStrate (TYO.5220).

Investors not moved

The launch of the Corning Willow Glass hasn’t had much impact on Corning’s stock price. The stock is down 3% over the last month and nearly 30% over the last year. This means that the glass will have to prove its mettle in the next earnings to earn investor confidence and positively influence the stock price.

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Notes:
  1. Corning launches Ultra-Slim Flexible Glass, www.corning.com, June 4th 2012 []
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  • commented 2 years ago
  • tags: GLW AAPL
  • Hi Lam,
    Thanks for your comment.

    The Trefis price is the result of mathematically combining all of our forecasts for a company into a single number representing the per share value of the company. The Trefis forecasts are used to calculate future revenues, costs and cash profits for a company. The future cash profits are then discounted to the present using commonly used valuation methodologies.

    We basically estimate the fair or intrinsic value of the stock price based on its fundamental drivers, and present it to our users. When compared to market price, it tells you whether the market price is lower or higher than our estimate of the true value of the company's stock price.

    Take a look at our Finance Basics help category for more information on the methodology.

    Hope this addresses your question.

    Best,
    Trefis Team
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  • commented 2 years ago
  • tags: GLW AAPL
  • I have lost a fortune on Corning stock and I have been holding out to sell it if it ever gains back up to 20.00 a share. I sure hope this willow glass and gorilla glass will give it a boost. I'm just holding on.......
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  • commented 2 years ago
  • tags: GLW AAPL
  • Hey, I looked upon the price chart of GLW, I have not seen this stock touching beyond 15 for some time. Can I know why you have an estimate of 17. Are you attributing your estimate to the this new line launch. I see and your article also explains that the Gorilla glass dominance and this new stock still needs to be tested, don't you think it still has time to catch up to 17?

    Do let me know, if I am missing something. Regards, LAM