Apple Inc on Tuesday said it would award Corning Inc $250 million from a $5 bill...
- Apple Inc on Tuesday said it would award Corning Inc $250 million from a $5 billion fund dedicated to U.S. advanced manufacturing.
Apple and Corning did not disclose the terms of the deal. In the past, Apple has made long-term supply agreementswith 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.
In the meantime, Apple has spent the past several years emphasizing its supplier base in the United States.
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