Corning sees LCD glass market growth

Date: 26 March 2004
Source: Reuters.com

Date: 26 March 2004

Corning Inc., the world's largest maker of fiber-optic cable, on Wednesday said it expects the market for liquid crystal display glass to grow up to 50 percent annually over the next several years thanks to strong demand for such products as laptop computers.

The Corning, New York-based company said it expects global LCD glass market volume will grow between 30 percent and 50 percent for the next several years and growth in 2004 will be at the top half of that range.Corning also cited the continued penetration of LCD glass in desktop monitors and the emergence of LCD televisions.Corning Senior Vice President Donald McNaughton cited the company's recent increased first-quarter forecast for LCD demand."We are very pleased to see strong demand continuing in quarter one and we are focusing our efforts to accelerate additional capacity to better serve the industry," he said in a statement.

Notebook computer sales should continue to be a stable source of demand for LCD glass, as total notebook penetration of the computer market could reach 30 percent by 2006, Corning said.

"LCD monitors are on track to displace traditional cathode ray tubes as the display of choice this year and remain on pace to exceed 75 percent of monitors sold by 2006," McNaughton said.

He added that Corning expects LCD TVs to be up to 16 percent of the worldwide TV market within three years.
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