Corning Ends EU Probe by Scrapping Exclusive Smartphone Glass Deals

The European Commission on Friday accepted concessions from Corning Inc., closing an eight-month antitrust investigation into the U.S. glass maker’s supply practices. Corning agreed to remove exclusive-dealing clauses from contracts with smartphone manufacturers and glass finishers and to scrap terms that compelled customers to source most of their needs from the company. Under the legally binding commitments, Corning will not require original equipment manufacturers or their supply chains to procure more than 50% of their demand from the company. The offer, effective for nine years, spares Corning potential penalties of up to 10% of its global turnover. The maker of Gorilla Glass counts Samsung, Sony, Google, HP, Dell and Nokia among its major clients.