Despite substantial headwinds, Corning has been able to successfully navigate the pandemic environment. Earnings returned to positive territory after the first half of 2020 as Corning benefited from recoveries in the medical and technology industries. The company has shipped their Valor Glass vials to support more than 100 million COVID-19 vaccine doses. Corning's toughest glass yet, Gorilla Glass Victus, is featured on some of the highest selling smartphones in the industry like the latest iPhones and Samsung devices. Corning has long been the go-to company for the best smartphone screen glass and Gorilla Glass Victus will help continue their leadership in the market. As a compliment to their contributions to the smartphone industry, Corning will also be a key player in the 5G market due to providing the optical fiber that network operators require. Optical Communications has been the company's highest grossing segment and management is confident that this trend will continue as the digitization of the world accelerates. Corning uses its scale to stay competitive by investing over $1 billion per year in research and development.
From Jeff Auxier (Trades, Portfolio)'s Auxier Asset Management first-quarter 2021 commentary.
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