Latest news with #Rhinotech
Time of India
3 days ago
- Business
- Time of India
US phone glass maker Corning expands tie-up with Optiemus
NEW DELHI: Top American specialty glass and technology company Corning is expanding its business in India as it ties up with local contract manufacturer Optiemus through a trademark and licensing agreement for screen protectors. The company is also close to starting production of finished cover glass for smartphones in India in a Rs 1,000-crore JV also with Optiemus. The factory is likely to begin production in Dec this year. This will be the first time it will directly supply finished cover glass from India rather than importing it. The customers for the cover glass are likely to include companies, such as Apple, Samsung, and the Chinese makers, who account for a majority of smartphone sales in the country. Ashok Gupta, chairman of Optiemus Infra, said the company will import glass sheets into India for tempered glass and these will be sold in the country under the Rhinotech brand after processing as per Corning's techniques and mandates. The domestic market for tempered glass screen protectors is expected to see annual sales of 400 million pieces this year with an estimated retail value of Rs 20,000 crore. Most of these are currently sold through the unorganised sector after imports from China and Vietnam. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Mit Yazid: New Container Houses – Take A Look At The Prices! Container homes | Search ads Learn More Undo Sudhir Pillai, MD of Corning in India, said the screen protectors will carry the 'Engineered by Corning' trademark. "We believe that this development will support India's growing need for providing screen protectors for the mobile consumer electronics industry." Sources said govt is concerned over import of "low quality but high revenue" tempered glass into India. "BIS standards for setting quality standards for screen protectors have been announced and will need to be implemented over next few months. This will lead to higher production of tempered glass in India, which is critical as its volumes and turnover have been going up each year," a senior official at IT ministry said. Stay informed with the latest business news, updates on bank holidays , public holidays , current gold rate and silver price .
Time of India
4 days ago
- Business
- Time of India
Make in India booster: Optiemus signs licensing agreement with American Corning for screen protectors
Optiemus partners Corning to make tempered glass screen protectors in India NEW DELHI: Top American specialty glass and technology company Corning is expanding its business in India as it ties up with local contract manufacturer Optiemus through a trademark and licensing agreement for screen protectors. The company is also close to the start of production of finished cover glass for smartphones in India, this time in a Rs 1,000 crore joint venture again with Optiemus. The factory is likely to begin production from December this year, and this will be the first time when it directly supplies finished cover glass from India rather than importing it. The customers for the cover glass are likely to include companies such as Apple, Samsung and the ubiquitous Chinese makers who account for a majority of smartphone sales in the country. Ashok Gupta, chairman of Optiemus Infra, said the company will be importing glass sheets into India for the tempered glass, and these will thereafter be sold in the country under the Rhinotech brand after processing as per Corning's techniques and mandates. The domestic market for tempered glass screen protectors is expected to see annual sales of 400 million pieces this year with an estimated retail value of Rs 20,000 crore. Most of these these are currently sold through the unorganized sector after imports from China and Vietnam. Sudhir Pillai, MD of Corning in India, said the screen protectors will carry the 'Engineered by Corning' trademark. 'We believe that this development will support India's growing need for providing screen protectors for the mobile consumer electronics industry.' Sources said the govt is concerned over the import of 'low quality but high revenue' tempered glass into India. 'BIS standards for setting quality standards for screen protectors have been announced and will need to be implemented over the next few months. This will lead to higher production of tempered glass within India which is critical as its volumes and turnover have been going up with each passing year,' a senior official of the IT Ministry said. Corning's expansion in India particularly comes at a time when the govt pushes the Atmanirbhar Bharat and Make in India programme for having self-sustainability in the supply chain ecosystem. The company's key push in the mobile manufacturing ecosystem will come in after it starts the finished cover glass manufacturing at Chennai, Pillai said. Gupta said that Optiemus will initially expand the screen protector business in India, before looking at exporting them to locations such as the Middle East, and Europe. 'We will be expanding production as we move from here, and are looking at a strong play in India and beyond.' Stay informed with the latest business news, updates on bank holidays , public holidays , current gold rate and silver price .
