Corning supplies glass to Apple for products such as the iPhone and Apple Watch. Since the first iPhones hit the market in 2007, the glass on every iPhone sold has been produced at Corning’s Harrodsburg, Kentucky, plant.
Apple and Corning did not disclose the terms of the deal. In the past, Apple has made long-term supply agreements here with its vendors in which it provides upfront cash to lock in supplies of parts and better prices. The supplier, in turn, gets capital to carry out research and development or upgrade factories.