Corning ups LCD glass market forecast

Corning Inc. raised its forecast for fourth-quarter glass volume on strong sales of LCD televisions the first week of December 2009, announcing that the worldwide glass market could be larger in 2010 …

Corning Inc. raised its forecast for fourth-quarter glass volume on strong sales of LCD televisions the first week of December 2009, announcing that the worldwide glass market could be larger in 2010 than it previously thought. The speciality glassmaker forecast 2010 global LCD glass demand to be between 2.7 billion and 2.8 billion sq.ft., an increase from an estimated 2.4 billion sq.ft. for 2009. Corning also said global LCD TV sales will reach 132 million sets in 2009, compared to its previous estimate of 129 million. Corning chief financial officer James Flaws informed an investor conference held on 9 December that the “lights are green in display,” adding that “Panel makers continue to run at high utilization rates in the fourth quarter and glass supply is very tight. We expect glass demand to remain this way through the remainder of the quarter.” “Fourth-quarter demand is strong enough that if we could produce more glass, we would be able to sell it,” Flaws said.