Corning avoids EU antitrust fine by ending exclusive deals with phone manufacturers

Corning, the manufacturer of Gorilla Glass, has agreed to end its exclusive deals with phone makers in order to avoid an antitrust fine from the European Commission. The commission had accused Corning of using exclusivity clauses and rebates to stifle competition, leading to higher prices and less innovation. Under the agreement, Corning will waive all exclusive clauses in its current agreements and will not enter into any exclusive deals in the future. Additionally, Corning cannot require manufacturers or their suppliers to purchase more than 50% of their Alkali-AS Glass (Gorilla Glass) needs from the company in the European Economic Area. The commitments will be in place for nine years, with a trustee monitoring Corning's compliance. By agreeing to these terms, Corning was able to settle the investigation without facing any fines or admitting wrongdoing. The company stated that the resolution will have no material impact on its Gorilla Glass business or the company as a whole.