Samsung Electronics has confirmed to sell its Fiber Optics business to Corning Inc. Although the specifics are under wraps, the definitive agreement was reached between both the companies and the takeover by Corning is expected to be completed by end of first quarter 2015.
Corning says the acquisition will help them to expand their portfolio and will integrate Samsung’s fiber optic business with facilities in South Korea and China into Corning Optical Communications business.
Samsung and Corning are long-standing partners and have collaborated in the past for LCD and OLED panels.
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