LCD glass has its peaks & valleys
By Michael Mullaney
CORNING | It's a time of transition for the liquid crystal display industry, and manufacturers are staking billions on the future of flat-panel monitors and televisions.
The largest employer in the Southern Tier, Corning Inc. is also the world's largest manufacturer of LCD glass. The company is no stranger to wagering huge sums on up-and-coming technologies.
During the Internet boom in the late 1990s, Corning heavily invested in telecommunications technology. An industry slump in 2001 forced the company to diversify its product line and nearly halve its work force.
Not wanting history to repeat itself, it's fair to assume Corning has been keeping a close eye on the LCD market.
The company took a small step backward Thursday, projecting fourth-quarter LCD sales to be - at most - up
3 percent from the previous quarter. In mid-November, the company had forecast growth between 3 percent and 10 percent.
The revision was in part a response to two Taiwanese customers unexpectedly cutting LCD orders, company officials said.
Over the past year, LCD glass has become Corning's main moneymaker. Despite potential fourth-quarter setbacks, the company expects to end the year with 65 percent more LCD sold than in 2003.
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