Breach

The European Commission has launched a formal investigation into whether Corning violated antitrust laws with its dominant product. Regulators are concerned about this situation The company allegedly used various exclusive contracts to exclude competitors from the protective glass market 24 Channel for smartphones and tablets reports with reference to the official investigation.

We are investigating whether Corning, the primary manufacturer of this specialty glass, is depriving consumers of cheaper, more shatter-resistant glass by eliminating competing glass manufacturers.
– says Margrethe Vestager, head of the EU antimonopoly agency.

He adds that competition in production is vital in ensuring low prices and high product quality.

Commission concerns focused on deals with mobile device manufacturers and raw glass companies. The EU is investigating exclusive supply obligations, which require device manufacturers to source “all or nearly all” of their glass exclusively from Corning, provide discounts for exclusivity agreements, and force device manufacturers to submit competitive offers and accept them only if Corning cannot deliver. a better price.

Corning could face a hefty fine if found guilty of violating EU competition rules, but the glassmaker will also have the opportunity to address the Commission’s concerns by making a series of commitments that could lead to the end of the antitrust investigation. It is not reported at this time exactly what these actions and measures may be.

What do they say at Corning?

The manufacturer of protective glass has already commented on the situation:

Corning complies and will continue to comply with all applicable laws and regulations in all countries in which it does business. As part of this commitment, we are working with local regulatory authorities to ensure open discussion and collaboration.
said press secretary Meredith Hoing.

Since Corning is headquartered in the US, the EU will have limited influence on this issue, but regulators still have influence; for example, banning Gorilla Glass devices from entering the European Union unless the company stops allegedly anti-competitive practices.