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Corning offers Gorilla Glass concessions to settle EU’s antitrust case
It faces hefty fines if it breaks its commitments once accepted.
Gorilla Glass producer Corning has proposed several commitments in an attempt to settle an antitrust investigation initiated by the European Union. According to the EU Commission’s press release, the remedies proposed by Corning include waiving all exclusivity clauses in its current agreements with phone companies and glass finishers, promising not to use such clauses again in future, and not forcing its customers to buy specific quantities of stock from Corning. If Corning fails to live up to its commitments, the company could face fines of up to 10 percent of its worldwide turnover, or about $1.25 billion based on its 2023 financial results.
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