Corning Incorporated (GLW) M&A Call Transcript

Industry Overview - The current market for smart wearables is approximately half the size of the emerging AI market, which is rapidly evolving with smaller and smarter devices [2][3] - In 2024, 2 million smart glasses were sold, with Meta accounting for about half of those sales, and an additional 1 million sold shortly after, indicating a significant demand for AI-integrated devices [2] Company Insights - The company has identified a critical issue in the market related to battery technology, which is described as outdated, large, and insufficient in power duration [4] - The average user of Meta glasses experiences only about 3 hours of battery life, despite claims of up to 6 hours, highlighting the need for improved battery performance [4] - The company is actively engaging with customers to understand their needs and challenges, particularly regarding the development of new products that require better battery solutions [4]