Corning avoids a fine of anti -monopoly in the European Union by ending exclusive deals with phones manufacturers

Corning, the US Glass Manufacturer behind Gorilla Glass, has pledge To end its exclusive deals and other practices that the European Commission considered anti -competition in order to avoid fining. If you will remember, the committee Declare He was investigating Corning last year, accusing him of competition through exclusive supply agreements, thus raising prices and suffocating innovation. Now, the committee has acceptable The obligations made by Corning and made it legally binding under the rules of the European Union.

When the committee announced its investigation, she said that Corning is asking mobile phone manufacturers to obtain all or almost all alkalis as glass (marketed as gorilla glass) from the company, until their discounts. Under its agreement with the committee, Corning must “waive all items related to exclusive dealing in all their current agreements” with the manufacturers of phones and companies that deal with raw glass. Corning will also not also be allowed to enter exclusive deals in the future.

In addition, Corning cannot require manufacturers or any of its suppliers to buy any amount of alkalis as glass from it in the European Economic Zone. Throughout the world, Corning cannot require manufacturers and their suppliers to buy more than 50 percent of their needs of the company. Corning’s commitment will remain in effect for nine years, and the guardian will monitor the company’s movements to ensure its compliance.

like Reuters I noticed that the European Union fines may cost companies up to 10 percent of their revenues, but Corning was not forced to pay anything. “The European Commission has been settled without any fine, and there is no discovery of a violation committing Bloomberg In a statement.