Corning Avoids EU Fine in Antitrust Investigation

Brussels launched an investigation last year on suspicion that the company was abusing its dominant market position by entering into exclusive supply agreements with mobile phone manufacturers and companies processing raw glass, which hindered competition.

The European Union announced that it has accepted commitments from the American glass manufacturer Corning — known for its shatter-resistant glass used in smartphones and tablets — thereby avoiding a potential antitrust penalty, AFP reported.

Brussels launched an investigation last year on suspicion that the company was abusing its dominant market position by entering into exclusive supply agreements with mobile phone manufacturers and companies processing raw glass, which hindered competition.

“Corning has committed to ending conduct that could potentially prevent competitors from effectively participating in the market for cover glass used in smartphones and other portable devices,” stated European Commissioner for Competition Teresa Ribeiro.

According to her, this opens up the market and ensures that consumers will benefit from lower prices and higher-quality cover glass.

The commitments, which are now legally binding, include abandoning any exclusive clauses with device manufacturers and glass processing firms. Corning will not require phone manufacturers to purchase specified quantities of its glass — primarily known under the Gorilla Glass brand — nor will it link price discounts to such conditions within the European Economic Area, which includes 30 countries.

The European Commission, acting as the EU’s antitrust regulator, clarified that the commitments will remain in effect for nine years and “address its competition concerns.”

If Corning breaches the agreement, the company could face fines of up to 10% of its annual turnover. | BGNES

Follow us also on google news бутон