Corning to Buy Samsung Fiber Optics Business

5 December 2014—Global glass and optics giant Corning (USA) announced this week plans to acquire the fiber optics business of Korea-based Samsung Electronics. The details of the agreement were not divulged, but the acquisition should be complete by the end of March 2015, subject to customary closing conditions and regulatory approvals.

With the acquisition, Corning expects to augment its market access in Asia, and enhance its broad portfolio of optical communications products. Corning will acquire Samsung’s fiber manufacturing facilities in Gumi, South Korea, and Hainan, China, and integrate them into the Corning Optical Communications business segment.

Samsung’s fiber optic business began in 1983 and provides optical fiber, optical cable, and wired and wireless solutions to more than 60 countries. Samsung claims to hold about 30 percent of the broadband network market in Korea. The acquisition dovetails with Samsung’s goal to focus on its core business of electronics.