Corning cuts 3Q LCD demand forecast

Speciality glassmaker Corning Inc. has announced that demand in the LCD market this quarter is slower than expected.
The company now says that it expects third-quarter glass volume to slip 5% compare…

Speciality glassmaker Corning Inc. has announced that demand in the LCD market this quarter is slower than expected. The company now says that it expects third-quarter glass volume to slip 5% compared to the previous quarter, and that the lower estimate reflects a slowdown of Taiwanese and Japanese manufacturers. However, despite the cutback among panel makers, the company said retail sales of LCD TVs had not declined, and is still expecting global LCD TV unit sales to hit 185 million units in 2010, an increase of 37% compared to 2009.