To: puborectalis who wrote (12945 ) 11/29/2011 1:00:15 PM From: sylvester80 Respond to of 32692 Kiss CRAPple goodbye...it's not mentioned by name but everyone (but iSheep) can figure out what single company could have that affect on Corning Corning Cuts Q4 Glass Sales View; Tablets Partly To Blame By Tiernan Ray Shares of Corning ( GLW ) are down $1.48, or 10%, at $13.30 after the company this morning cut its outlook for production of glass for LCD displays this quarter, citing a major Korean customer that wouldn’t buy as much as expected, and also a shortfall in tablet computer demand for the displays. Corning embedded the update in a press release about its corporate controller, Tony Tripeny, speaking today at the Credit Suisse Annual Technology Conference, which he will do at 1:30 pm, Eastern time. The company’s joint venture with Samsung Electronics ( SSNLF ), Samsung Corning Precision Materials, Co., Ltd., of which Corning holds a 50% stake, will probably produce only 5% to 10% more glass this quarter than last, versus an original expectation for a 20% or greater increase in glass volume. Prices are expected to drop more sharply this quarter than originally expected, the company said. Corning said it will reduce its glass capacity this quarter in order to stem the buildup of unwanted supply. The company expects to reduce its total capacity worldwide, both its own supply and that of Samsung Corning, by 25% by the end of this quarter. The company also said its sales of “Gorilla Glass ,” which is used in many smartphones and other mobile products, will drop 25% from last quarter, worse than the company’s original expectation for a 15% drop. The company attributed that to, “lower worldwide demand for cover glass for tablet computers.”It’s difficult to know just what exactly to make of that last statement. Does the shortfall in Gorilla Glass reflect overall weakness of the tablet market? Does it reflect weakness of non-iPad tablets? Or does it reflect a shift in materials by tablet makers away from what Corning has to offer?