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Gorilla Glass maker Corning has a new partner: Samsung. The South Korean firm is taking ownership in the company which produces tough glass displays for the iPhone and just about everyone else. At the same time, the $2 billion agreement gives Samsung a 10-year a supply contract while Corning gets the cash to explore future technology.

Along with making highly-resistant glass for smartphones, Corning could also be tapped to produce flexible material aimed at the growing number of wearable devices, such as Samsung’s Galaxy Gear and Apple’s long-rumored iWatch

Corning confirmed in media release Wednesday that it has entered into a series of strategic and financial agreements with Samsung Display Co., Ltd. The partnership is intended to strengthen product and technology collaborations between the two companies.

The transactions should close in the first quarter of 2014.

With this move, Samsung’s combined investment in Corning would result in approximately 7.4 percent ownership stake. It doesn’t take a genius to figure out that the deal puts Samsung in a ratger comfortable position where it’s able to gain access to Corning’s new technologies ahead of others.

Corning Willow Glass

This especially includes Apple which has relied on Corning’s protective cover glass technology for iPhones since 2007. Earlier this year, Samsung also purchased OLED maker Novaled for $347 million.

As part of the deal with Corning, the glass maker gains outright ownership of an LCD plant in Korea previously co-owned with Samsung.

Along with a new Retina-based iPad and the talked-about iWatch, Apple is also reportedly thinking of producing large-screen televisions. Corning had been mentioned as one of the possible suppliers.

Ahead of the iPhone 5c and iPhone 5s launch, the glass maker reportedly was developing Lotus XT Glass for the new generation of Apple handsets.

  • Jonathan

    I’m still not going to test drop..

  • chumawumba

    Samesung

    • moofer

      Shamsung

      • Max Kewin

        You guys are being predictable. Give us some creativity!

      • Diego Gastón Milano

        Sam-desperatemoves-sung.

      • Joseph

        You Apple fanboys always complain about the issues on Samsung screens. Now you make fun of them when they set out to fix it. Make up your damn minds.

      • Rowan09

        Buying a stake in Corning won’t necessarily fix the issue because Apple owns the patent on their touch technology, I believe it’s the bounce back feature. It’s a smart move though because everyone basically use their touchscreens, so it’s a smart business move.

      • Diego Gastón Milano

        FYI, I’m no fanboy, buddy. I was trying to be fun and reply to the ‘be-more-creative’ comment in a hilarious way (or even sarcastic).
        It wasn’t my intention to hurt anyone’s feelings or keep up the fan-nerds

      • leart za jmi

        Samesushi

      • @dongiuj

        Please don’t tell me you’re trying to make fun of Samsung by saying samesushi. You’re not, are you?

      • leart za jmi

        I am not telling anything to you!!

        Opa sam gam sung style

      • mrhs

        SameSong!

      • Henri Parmentier

        and if it would have been apple ? Shameapple ?

      • angry one

        did that hurt your feelings haha

  • Rowan09

    Smart move.

  • Kurt

    “This especially includes Apple which has relied on Corning’s protective cover glass technology for iPhones since 2007. ”

    Wasn’t iPhone 4 the first iPhone to have Gorilla Glass?

    • leart za jmi

      Steve Jobs pushed Gorilla Glass to produce a screen glass for first iphone

  • chris125

    uum apple isn’t the only one who uses gorilla glass, other manufacturers have been using this for years so its not just a glass maker for apple…