Apple invested another $45 million in Corning: we are waiting for a foldable iPhone with flexible protective glass

Apple has long been working with Corning, a manufacturer of protective glasses for smartphones, smart watches and other gadgets. And now the company has decided to make additional investments.

How much and why?

Since 2017, Apple has already invested more than $450 million in Corning, and recently announced an additional investment of $45 million. This money is from the Advanced Manufacturing Fund.

Apple emphasized that the investment is intended to "expand Corning's US manufacturing capacity and stimulate research and development on innovative technologies that ensure product reliability and durability."

Corning produces protective glasses for iPhone, iPad and Apple Watch. For example, iPhone 12 has got an ultra-strong glass Ceramic Shield, which, according to the manufacturer, is 4 times more resistant to damage when dropped.

It is also likely that Corning is developing flexible glass for the first foldable iPhone. According to rumors, it will only be released in 2023.

Source: Apple