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Corning SWOT & PESTLE Analysis

ID : 52288453| Sep 2020

COMPANY PROFILE -Corning

Business Sector :Glass, Ceramics, Optical Fibres (Material Science)

Operating Geography :United States, North America, Global

About Corning :

Corning Inc is an American multinational company headquartered in New York. Established in 1851, the manufacturing company has been the world’s leading innovator in material science has an unparalleled expertise in Specialty Glass, Ceramics and Optical Physics. With approximately 45000 employees worldwide, Corning Inc. ranks 298 among the Fortune 500 Companies.

Corning Revenue :

$9.7 billion (2016)

Competitive Analysis of Corning

SWOT
PESTLE
The SWOT analysis for Corning is presented below:
Strengths
Weaknesses
1. Strong Innovation
2. Strong Strategic and Capital allocation framework
3. Increase in Core Earnings Per Share by 11% from 2015
4. Strong Acquisitions and collaborations
1. Decrease in Net Sales and Net Income Year-over-year
2. Dependence on Market status for Derived demand
Opportunities
Threats
1. Creating opportunities through Innovation programs like the Glass Age, Inspired by Glass
2. Emerging Market for Optical Communication
1. Market saturation of Display Technologies
2. Declining Business in Environmental Technologies Segment due to weakening of Diesel Product Market
3. Several competitors across all of Corning’s Product line
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Detailed SWOT Analysis of Corning

Opportunities

1. Creating Opportunities through Innovation Programmes: Corning has introduced the Glass Age at Consumer Electrics Show (CES) in 2017. With its “Inspired by Glass” series, Corning has created a huge opportunity by showcasing its innovation and possibility of a better and technologically advanced future. Corning has also teamed up with Merck & Pfizer to create a new glass in medical products. Corning’s low-flow reactors and OLED also seems to have promising future.

2. Emerging Market for Optical Communication: As per Press Release by the Market and Markets Pvt Ltd. the Optical Networking and Communications Market will worth $25.97 billion by 2020. Corning’s expertise in Optical physics growth in the revenues year-over-year in Optical communication segment certainly signals positive in terms of huge opportunity. Verizon has recently collaborated with Corning for a 3-year Minimum Purchase Agreement for Next Generation Optical Solutions.

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SWOT & PESTLE.com (2021). Corning SWOT & PESTLE Analysis - SWOT & PESTLE.com. [online] Available at: https://www.swotandpestle.com/corning/ [Accessed 01 Aug, 2021].

In-text: (SWOT & PESTLE.com, 2021)

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Corning SWOT and PESTLE analysis has been conducted by Bishnupriya Bala and reviewed by senior analysts from Barakaat Consulting.

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