Earlier this month, the European Commission launched an investigation into Corning, the maker of Gorilla Glass. The company quickly responded by offering concessions.
The EU accuses Corning of using exclusive contracts to drive competitors out of the smartphone glass business. In response, the company proposed to remove exclusivity clauses from its current agreements and guaranteed that it would not include such obligations in future contracts.
The company was also accused of imposing too high minimum order volumes. The manufacturer promises to abandon this practice as well.
If the changes are adopted, they will affect Corning's contracts worldwide, and the European Commission will monitor the company for nine years to ensure compliance.
Third parties can appeal the decision within six weeks before it takes effect. If Corning violates the agreement, it faces a fine of up to 10% of its global turnover for 2023, which is about $1.25 billion.