Topics
Latest
AI
Amazon
Image Credits:AlexandrBognat / Getty Images
Apps
Biotech & Health
clime
Image Credits:AlexandrBognat / Getty Images
Cloud Computing
Commerce
Crypto
Enterprise
EVs
Fintech
Fundraising
gismo
stake
Government & Policy
Hardware
Layoffs
Media & Entertainment
Meta
Microsoft
Privacy
Robotics
Security
Social
blank
inauguration
TikTok
Transportation
speculation
More from TechCrunch
Events
Startup Battlefield
StrictlyVC
newssheet
Podcasts
video
Partner Content
TechCrunch Brand Studio
Crunchboard
Contact Us
On Wednesday , the European Union open an investigation of U.S. manufacturing business corn over potential anti - private-enterprise practice . Corning may not be a name that ’s super conversant to the average technical school consumer , but you are almost certainly within poignant space of its products , as it ’s a leading supplier of metier toughen glass for mobile equipment , including Apple ’s iPhone . Its Gorilla Glass branding may also be a touch more intimate .
In apress handout , the Commission say it ’s implicated that Corning may have shout a dominant place for spherical supply of protective looking glass cover for hand-held electronic devices , which may have lead in distorted competition . In the Commission ’s own countersign , Corning signed “ anti - competitive single supply agreements”with mobile phone maker and companies that swear out raw glass ( also known as OEMs and finishers , severally ) .
“ The Commission is concerned that the agreements that corn put in piazza with OEMs and finishers may have excluded rival glassful producers from large segments of the market , thereby reducing client choice , increasing prices , and stifle innovation to the detriment of consumer worldwide , ” the EU write .
The Commission said it will now carry out an in - depth investigation as a subject of priority . There ’s no define timeline for concluding such a probe so it remains to be seen whether or not the EU will reassert any falling out . But if it does , penalty for competition rape can be up to 10 % of global revenue .
Reached for comment on the EU investigation , Corning spokesman Michael West said : “ Corning has and will continue to be committed to abidance with all applicable rule and regularization where it does occupation . As part of that commitment , we work with local regulative government agency to ensure open discussion and cooperation . ”
This write up was updated with comment from Corning .
