“The Commission is concerned that the agreements that Corning put in place with OEMs and finishers may have excluded rival glass producers from large segments of the market, thereby reducing customer choice, increasing prices, and stifling innovation to the detriment of consumers worldwide,” the EU wrote.
The Commission said it will now carry out an in-depth investigation as a matter of priority. There’s no fixed timeline for concluding such a probe so it remains to be seen whether or not the EU will confirm any breach. But if it does, penalties for competition violations can be up to 10% of global revenue.