Good morning! Thank you all for coming today. What did you think of the video?
It's really become quite a sensation on YouTube. I heard from Jim Steiner the other day that it's well over 12 million hits on YouTube, which is pretty incredible, isn't it?
I'll talk a little more about some of what you actually saw in the video after today's formal business. What is it about that vision of the future that we find so exciting? First, the formal business, so let's get started. The annual meeting of shareholders of Corning Incorporated will please come to order. For those of you who don't know me, I'm Wendell Weeks, Chief Executive Officer and Chairman of the Board of Directors. Seated to my left is Denise Hauselt, Vice President and Secretary of the Corporation.
I'm very glad to be here today and delighted to see such an excellent turnout and even more delighted to see sunshine outside. Today's meeting is in three parts: the official business of the meeting, my reflections on the state of the company and our outlook, and some concluding remarks. Following the meeting, we'll have a special presentation on Corning Gorilla Glass from Jim Steiner, Senior Vice President and General Manager of Specialty Materials. After his presentation, I hope that all the shareholders will stay for lunch in the tents outside. We do not have a printed agenda for this meeting, so let me explain the formal action that we'll take. The Secretary will report the number of shares being voted and confirm that the meeting has been properly called. I will introduce the Board of Directors. I'll call for a motion for the election of certain directors.
I'll call for motions for the advisory votes on executive compensation and for the frequency of holding such advisory votes in the future. I'll also call for a motion to ratify the appointment of PricewaterhouseCoopers LLP as auditors for 2011. Next, I'll ask for a representative of Ram Trust Services to present the shareholder proposal that appeared in the proxy statement. Finally, I'll call for a vote on all five motions. After this formal action is completed, I will discuss the state of the company. Some of you may have questions not covered in my formal remarks today. We encourage you to ask questions during today's luncheon, where you'll have the opportunity to speak directly to company officers. We can give you more complete answers at that time and point you to the best people to provide the information that you need.
Company representatives will be wearing white badges to help you identify them. However, if you cannot stay for the luncheon, you can ask your question following my remarks. Now we'll start the formal part of the meeting. Just a note: any valid ballots handed up at today's meeting won't be in this morning's preliminary vote totals, but they will be included in the official vote tally in a Corning SEC filing early next week. Madam Secretary, may we have your report on the representation of holders of stock here today?
Mr. Chairman, as of February 24, 2011, the record date for this meeting, the Corporation had outstanding 1,569,329,245 shares of common stock representing that same total of votes. There are represented here today in person and by proxy 1,378,252,800 votes, or approximately 87% of the total votes, and a quorum requires 784,664,623 votes.
As you have heard, a quorum is present. May we now have a report on the proof of call and notice of this meeting?
Mr. Chairman, I have certified lists of all record holders of common stock at the close of business on February 24, 2011, and the affidavit of Computershare Communication Services dated March 18, 2011, certifying to the March 14, 2011, mailing of notice of this meeting and proxy material to each shareholder of record.
Thank you. Please file these documents with the meeting records. Now, it is our practice not to have the Secretary read last year's meeting minutes. However, if anyone wishes to examine last year's minutes, they should see Ms. Hauselt after the meeting. I will now introduce the members of the Board of Directors and ask them to stand when I say their name. Please hold your applause until everyone has been introduced. Dr. John Seely Brown, retired Chief Scientist of Xerox. Mr. John Canning, Jr., Co-Founder and Chairman of Madison Dearborn Partners. Mr. Robert Cummings, Jr., Vice Chairman of Investment Banking of JPMorgan Chase. Mr. James Flaws, Vice Chairman and Chief Financial Officer, Corning Incorporated. Mr. Gordon Gund, Chairman and Chief Executive Officer of Gund Investment Corporation. Mr. Kurt Landgraf, President and Chief Executive Officer of Educational Testing Service. Mr.
James O’Connor, Chairman of the Board of Armstrong World Industries and retired Chairman and Chief Executive Officer of Unicom Corporation. Dr. Deborah Rieman, Managing Director of Equus Management Company and retired President and Chief Executive Officer of Check Point Software Technologies. Dr. H. Onno Ruding, retired Vice Chairman and Director of Citicorp and Citibank. Mr. William Smithburg, retired Chairman, President and Chief Executive Officer of Quaker Oats. Mr. Glenn Tilton, Chairman of the Board of United Continental Holdings. Mr. Hansel Tookes II, retired Chairman and Chief Executive Officer of Raytheon Aircraft. Dr. Mark Wrighton, Chancellor and Professor of Chemistry at Washington University in St. Louis. Most of you know two of our former directors who are here today: Jamie Houghton and Amo Houghton.
We thank them for coming!
The first business of the day is to elect six directors for one-year terms. Mr. Gergel, may I please have the oath of inspectors of election? Madam Secretary, please affix this oath of inspectors of election to the meeting minutes. I now call for nominations for directors.
Mr. Chairman, I move that the following be elected directors of the Corporation to serve until their successors have been elected for one-year terms: John Seely Brown, John Canning, Jr., Gordon Gund, Kurt Landgraf, H. Onno Ruding, and Glenn Tilton.
I second that motion.
Is there any discussion?
The second proposal calls for an advisory vote of shareholders approving the Corporation's executive compensation as disclosed in the proxy statement. I will now entertain a motion and resolution for that approval.
Mr. Chairman, I move the adoption of the following resolution. Resolve that the total compensation paid to the company's Chief Executive Officer, Chief Financial Officer, and other most highly compensated executives, as disclosed in the company's proxy statement for the 2011 Annual Meeting of Shareholders, pursuant to the disclosure rules of the Securities and Exchange Commission in Item 402 of Regulation S-K, including this compensation discussion and analysis, the various compensation tables, and the related narrative discussion, is hereby approved.
I second the motion.
Is there any discussion?
The third proposal calls for an advisory vote of shareholders on the frequency of advisory votes on executive compensation practices. I will now entertain a motion and resolution for that frequency.
Mr. Chairman, I move the adoption of the following resolution. Resolved that shareholders of the company determine on an advisory basis that the frequency with which the shareholders of the company shall have an advisory vote on the compensation of the company's named executive officers set forth in the proxy statement is: one, every year; two, every two years; three, every three years; or four, abstain from voting.
I second that motion.
Is there any discussion?
The fourth proposal calls for ratification of the Audit Committee's appointment of PricewaterhouseCoopers LLP as Corning Incorporated's independent registered public accounting firm for 2011. I will now entertain a motion and resolution for that ratification.
Mr. Chairman, I move the adoption of the following resolution. Resolved, that the shareholders of the Corporation ratify the Audit Committee's appointment of PricewaterhouseCoopers LLP as the Corporation's independent registered public accounting firm for the fiscal year ending December 31, 2011.
I second the motion.
Is there any discussion?
At this point, we have the shareholder proposal concerning 10% of shareholders calling special meetings, as stated on pages 66 to 67 of the proxy statement. This proposal will be presented by a representative of Ram Trust Services, Elizabeth Currier, who may make a brief supporting statement. The representative will now introduce the shareholder proposal.
Good morning. Resolve shareowners ask our board to take the steps necessary to amend our bylaws and each appropriate governing document to give holders of 10% of our outstanding common stock the power to call a special shareowner meeting. This includes that such bylaw and/or charter text will not have any exception, conditions in regard to calling a special meeting that apply only to shareowners but not to management and/or the board. Special meetings allow shareowners to vote on important matters, such as electing new directors, that can arise between annual meetings. Shareowner input on the timing of shareowner meetings is especially important during a major restructuring, when events unfold quickly and issues may become moot by the next annual meeting. This proposal topic also won more than 60% support at the following companies: CVS Caremark, Sprint Nextel, Safeway, Motorola, and R.R. Donnelley.
The merits of this special shareowner meetings proposal should also be considered in the context of other shareholder efforts to improve our company's corporate governance. For instance, a 2010 shareowner proposal on the simple majority vote topic won more than 85% support at our annual meeting. This 85% support also represented impressive 56% support from all shares outstanding, including shares that did not vote. The Council of Institutional Investors recommends that management adopt shareholder proposals upon receiving their first majority vote. Please encourage our board to respond positively to this proposal in support of improved company performance. Thank you.
Is there any discussion? If not, I'd like to say a few words before we continue. The Board of Directors' position on the shareholder proposal is stated on pages 66 to 67 of the proxy statement, but let me briefly explain. The Board believes that this proposal is excessive and without clear benefit to Corning and its shareholders. Special shareholder meetings are extraordinary events that are expensive, disruptive, and time-consuming. The proposed 10% shareholder level is very low, and the majority of S&P 500 companies don't allow shareholders to call special meetings. Thus, the Board of Directors unanimously recommended a vote against this proposal. Now it's time to review the voting procedures for the five pending motions.
Under the Corporation's bylaws and SEC rules, the election of six directors, the advisory votes on executive compensation and future frequency of such advisory votes, the ratification of the independent registered public accounting firm, and the shareholder proposal will be voted by ballot. Most shareholders have already voted. If you previously voted by proxy, either by returning your proxy card, voting by internet, or voting by telephone, there's no need for you to vote again today. Any shareholders who waited and need to vote now should use the proxy card or ballot received at home. Raise your hand, and an usher in a red coat will collect it. You can also obtain a ballot from an usher by raising your hand. Thank you. I now ask the inspector of election to report the results to the meeting.
Mr. Chairman, I report that each of the six nominees for the Office of Director was elected to the company's Board of Directors. The advisory shareholder vote was in favor of the total compensation paid to the company's named executive officers, as disclosed in the 2011 proxy statement, and was in favor of a one-year frequency for shareholders to have an advisory vote on compensation of the company's named executive officers. I also report that a majority of votes cast were in favor of the ratification of the Audit Committee's appointment of PricewaterhouseCoopers LLP as the company's independent registered public accounting firm for the fiscal year ending December 31, 2011, and were against the shareholder proposal.
Thank you. I declare that all six nominees for directors are elected. The shareholder advisory vote approved the company's executive compensation program. The advisory vote was in favor of one-year frequency for voting on executive compensation. The appointment of PricewaterhouseCoopers LLP as auditors for 2011 is ratified, and the shareholder proposal has failed, as indicated by the report of the inspectors of election. As I said earlier, today's vote results are preliminary. Final detailed numbers will be filed with the SEC in a Form 8-K next week. That concludes the formal part of the meeting. Now I'd like to shift gears and talk to you about how your company is doing. Corning Incorporated celebrates its 160th birthday this year, and I honestly think this is one of the most exciting times in the company's long history. We're financially strong.
We have a tremendous set of growth opportunities, and we're confident in our ability to build a bigger, more balanced company. Today, I'll reflect briefly on our 2010 performance and this year's first quarter results. I'll talk about the trends driving Corning's growth. I'll conclude by discussing our plan to reach $10 billion in sales by 2014. First, let me review who we are and what we're trying to achieve. Corning Incorporated is the world leader in specialty glass and ceramics. We create keystone components that enable high-technology systems for consumer electronics, mobile emissions control, telecommunications, and life sciences. We succeed through sustained investment in R&D, 160 years of material science and process engineering knowledge, and a distinctive collaborative culture. Our corporate strategy is grounded in this identity. We grow primarily through global innovation.
Because innovation comes with risks, we proactively work to provide balance and stability to the company, and we're committed to living our values so that we sustain the trust of all of our stakeholders. I take the time to review this strategy at each shareholder meeting because it guides everything we do as a company. It ensures that we stay true to ourselves, and it keeps us focused on our mission of another 160 years of innovation and independence. As Winston Churchill said, however beautiful the strategy, you should occasionally look at the results. That gets to the main reason we stick with our corporate strategy: because it works. It guided Corning Incorporated's recovery from our near-death experience during the telecom crisis. It enabled us to overcome the worst economic recession since the Great Depression, and it has helped us double the size of the company since 2002.
Let's talk about how we're doing now. Quite simply, 2010 was an outstanding year for Corning Incorporated. We grew sales 23% to $6.6 billion. We delivered record earnings with net income and earnings per share both up more than 50%, excluding special items. We improved corporate gross margins by seven points. We ended the year with more than $6 billion in cash and short-term investments, and we had record positive free cash flow. We also did much, much more than deliver great financial results. We improved Corning's position in China, where strong end markets continue to drive growth for our LCD glass, optical fiber, and emission control products. We won new customers for the Pretium EDGE solution, which uses clear curved fiber technology to simplify optical networks and data centers.
We tripled sales for Corning Gorilla Glass, which has become the cover glass of choice in the IT and handheld markets and recently expanded into television applications. Our glass is now being used by more than 30 major brands, has been designed into more than 400 different products, and is featured on hundreds of millions of devices. The opportunity for even wider adoption of Gorilla Glass prompted us to launch Corning's first major consumer marketing campaign in more than a decade. You'll hear more from Jim Steiner during today's special presentation, but here's a quick look at a few of our ads. I'd like you to meet Victor, our spokes gorilla. The ads underscore Gorilla's unique combination of beauty and toughness. They began appearing in magazines and online last December, and you'll be seeing much more of Victor in the months to come.
Needless to say, we're thrilled about the success of Gorilla Glass, which has become one of Corning's fastest-growing products ever. Most importantly, we have continued to innovate. We secured 264 patents in 2010, up more than 40% from the prior year. Over the past five years, we delivered an average of two major new products a year to each of our businesses. Corning continues to rank first on the Patent Board's Innovation Scorecard in the Industrial Materials category. I don't have the time today to discuss everything in our innovation pipeline, but here are a few highlights from the year. We launched Eagle XG Slim Glass, which enables thinner, more lightweight electronic devices. We are now providing customers with sheets of LCD glass that are as large as a king-size mattress and about four times the width of a human hair.
We introduced Synthemax cell growth surfaces, providing researchers with more efficient tools for drug discovery. We advanced our photovoltaics program, which leverages Corning's flat glass expertise for solar energy applications. Our value proposition is to increase the conversion efficiency of solar cells, and we set new industry records in lab trials last fall. The year 2010 was a terrific year. I must say, we're off to a great start in 2011. First quarter sales were $1.9 billion, up 24% from last year and higher than our expectations. Every business segment was up sequentially and year over year. Net income and earnings per share were down slightly from 2010, but this was due to increases in Corning's tax rate, which we expected. We continued to strengthen our balance sheet. We ended the quarter with $4 billion more cash on hand than debt, up $2 billion from the same time last year.
Our strong cash position provides three important things: the stability to survive bumps in the road, the resources to invest strongly in research and development, and the flexibility to seize opportunities to strengthen Corning's competitive advantage. We're extremely pleased with our first quarter results and the growth that we're seeing across the company. In fact, Corning's growth opportunities are the strongest that they have been in my time with the company and arguably in the past 160 years. Key trends are playing to Corning's strengths and creating problems that we are uniquely positioned to solve with our materials and manufacturing processes. One important trend is occurring in consumer electronics, where people are demanding greater mobility, natural touch interfaces, and access to information when and where they want it.
We opened today's meeting with Corning's vision of the future based on the work that we're doing with customers to support this trend. Let's talk for a moment about what you saw in the video. You saw a world with seamless delivery of real-time information, where people stay connected through a virtual world that is literally at their fingertips, where everyday surfaces are transformed from one-dimensional utility into sophisticated electronic devices. It's a world of communication and connection. It's a world made of glass. Why glass? Consider the materials requirements. This is a visual world, so transparency is a must. That limits the choices to glass or plastic. However, transparency is only the beginning.
This world also requires a material that is strong, yet thin and lightweight, flexible and conformable, durable and damage-resistant, stable enough to withstand hostile conditions such as severe weather, extreme temperatures, and cleaning agents, touch-friendly with a cool, natural feel. Now, that doesn't describe plastic, but it does describe glass. Since there are some additional requirements, not just any glass will do. This is a world of technical capabilities that lie just below the surface. The material must enable complex electronic circuits and nano functionality. It must be able to scale for very large applications, and it must be kind to the environment. In other words, this world requires the kinds of highly engineered specialty glass made by Corning. This world also requires massive bandwidth to facilitate real-time information and on-demand connections, and that means fiber optic networks and connectivity.
These are demanding technical challenges for sure, but they are in Corning's sweet spot. While the future may not turn out exactly like the video, we're working with customers right now to make many of these technologies a reality. Now, those aren't the only trends to watch. The push for a greener environment is also driving Corning's growth. Tighter regulations are driving demand for products such as our diesel particulate filters, and the search for clean energy solutions is creating interest in our photovoltaics technology. There are also three big trends driving growth in our life sciences segment. One is the aging of the U.S. population, which creates greater demand for health care. The second is the growth of emerging markets, which means more people are seeking modern medicine.
The third is the need for more efficient drug discovery, which drives demand for innovative research tools such as Corning's EPIC technology and cell growth surfaces. We have just tremendous opportunities across all Corning's major businesses. Based on these trends, we believe we have the potential to grow to $10 billion in sales by 2014. Here's a quick look at how we expect to grow. I won't go into the specific plans for each business. You can find the details in the presentations from our February investor meeting, which are archived on our website. You can see on this chart that every business plays a role in Corning's growth. We also plan to build at least one major new business by 2014. We currently believe that our photovoltaics program has the best potential to be a significant business, but we never put all of our eggs in one basket.
We continue to pursue multiple opportunities and maintain a rich new product portfolio. You should also note that a significant portion of Corning's overall growth will come from China. I want to say a few words about our global investments because we get a lot of questions, especially from our local community, about why we are investing so strongly in markets like China. First, let me say that Corning takes a tremendous amount of pride in our heritage as one of America's oldest and most innovative companies. Corning today is very much a global company. Nearly 75% of revenues currently come from outside the United States. We must respond to changing markets and product demand to keep Corning healthy and thriving. Our worldwide operations allow a U.S. company to compete successfully in a global economy.
We're proud to apply American innovation and manufacturing to solve some of the world's toughest problems. Our geographic diversity helps mitigate the risks of economic and market volatility. For example, strong demand in China helped offset weakness in the United States and Europe in 2008 and 2009. We also continue to invest strongly here at home. We retained our headquarters and our science and technology center here in Corning, New York. While only 25% of current revenues come from the United States, more than 40% of our workforce is here. We maintain significant manufacturing operations in the United States, including the world's most advanced fiber plants in North Carolina, state-of-the-art manufacturing for environmental products in New York and Virginia, and precision glass making in Kentucky, which we are in the process of expanding. Corning's global investments will always be a careful balancing act.
Ultimately, we are investing to build a stronger company, and that benefits all of our stakeholders. I hope I've given you a good sense of where Corning is today, where the company is going, and why I feel so good about the opportunities in front of us. Two years ago, I told you that we were focused on emerging from the recession as a stronger company. We've done just that. Of course, one big reason for our performance is the tremendous talent of our leadership team. Before I close, I want to recognize members of Corning's Management Committee and have them stand as I say their name. James Flaws, Vice Chairman and Chief Financial Officer. Kirk Gregg, Executive Vice President and Chief Administrative Officer. Dr. Joseph Miller, Executive Vice President and Chief Technology Officer. Larry McCray, Executive Vice President, Strategy and Corporate Development.
Pam Snyder, Executive Vice President and Operations Chief of Staff. I am pleased to introduce Dr. Jeffrey Evenson, who joins us this June as Senior Vice President. Thank you all. I would also like to acknowledge Corning's extended leadership team, most of whom are here with us today. Could you all stand up, please? This team works closely with the Management Committee to develop and execute our corporate priorities, business strategies, and growth plans. We're fortunate to have such a talented group of senior managers with deep bench strength across Corning's business and staff groups. Thank you all. At the end of the day, we know it is the outstanding execution by our 26,000 global employees that ultimately drives Corning's success. Although our people are distributed across many countries, we work together as one company, united by a common set of values.
This has been particularly evident in the response to last month's devastating earthquake and tsunami in Japan. I've been overwhelmed by the strength and resilience of our Japanese employees and by the tremendous outpouring of support from our people across the globe. I feel extremely blessed to work with such a talented and caring group of individuals. Finally, I want to thank all of you for reminding us that we're not just part of a special company. We're also part of a very special community. Thank you for continuing on this journey with us as we lay the foundation for Corning's next 160 years of innovation and independence. Thank you all. Now, before I return to the final business of the meeting, I want to acknowledge a colleague and friend who is participating at his last shareholder meeting.
James O’Connor retires today from Corning's Board of Directors after more than 26 years of distinguished service. Jim has been with Corning through five CEO tenures. He has served with 48 other directors. He's participated on all our existing committees. Since 2002, he has served as our Lead Director, helping us honor our commitment to good corporate governance. Jim has led the Board through good times and bad, and he has truly helped make Corning a better company. Please join me in thanking him for his dedicated service to Corning over the years. Thank you, Jim. I hope my remarks address some of the topics on your mind. We'll have time to answer your questions over lunch. However, if a shareholder has a question that cannot possibly wait until the luncheon, please ask it now. Is there any further business to come before this meeting?
If not, I will entertain a motion for adjournment.
I'll move.
I'll second that motion.
All in favor, say aye. So ordered, I declare this meeting adjourned.
Thank you again for joining us today. Please stay seated for Jim Steiner's presentation as the Directors and I leave for the annual organizational meeting of the Board. I'll see you again at lunch. Thank you all.
What helps protect the world's coolest smartphones from the scratches, drops, and bumps of everyday use? Visually stunning, damage-resistant Corning Gorilla Glass. Corning Gorilla Glass. So. Yes, smart.
Good morning. Before I start, I'd like to clear one thing up. That was not me in the video. Some people that work with me may see me like that, but our gorilla is computer-generated and his name is Victor. I'm Jim Steiner, Senior Vice President and General Manager of Corning Specialty Materials. Over the next 20 minutes, I'll update you on Corning's Gorilla Glass business and hopefully have a little fun. Some of you may remember I presented at this very meeting four years ago. Within days of that meeting, we received our very first order for Gorilla Glass. A lot has happened since then. First, some history. Gorilla Glass has roots deep into Corning's past. Back in the 1960s, we invented a glass we called Chemcor. Over the next 30 years, Chemcor was sold into a number of different applications.
The problem was that a large application was never found. In late 2006, a small team in Specialty Materials decided that there was an opportunity for us to supply protective cover glass for use on cell phones. Using our Chemcor knowledge, we designed and developed a new glass, and within six months, in April 2007, we gained our first order and went into production. I will admit that at the time, we had no idea how large this opportunity would become. Gorilla Glass is now Corning's fastest-growing business, in fact, one of the fastest-growing in our history. We began the business selling glass that we use as protective cover on cell phones, then expanded to selling both glass and parts into the IT and TV segments.
While we fight to keep up with the fast growth, we're out hunting for new applications in three other market segments: autos, appliances, and architectural. Later in the presentation, I will show you examples of each. This chart shows the growth of models we are designed into. We started with just one model in 2007. We had nine in 2008, and then we really started to penetrate. We're now designed into over 400 models. In fact, this week added six more models in the handheld IT and TV segments. These models translate to more than 300 million individual units that have used Gorilla Glass to date. The brands that use Gorilla that we can talk about include Samsung, Nokia, LG, Dell, HTC, and others. This has been terrific work done by our commercial group, and these wins have led to significant sales growth for the business.
As Wendell just quoted, however beautiful the strategy, you should occasionally look at the results. This is my favorite page in this presentation. I will admit that it lacks the marketing pizzazz of a cute gorilla, but I think you'll understand why I like it so much. This chart shows our monthly sales from our first shipments in May 2007. Annual sales for the year 2007 were $19 million, which is a significant first-year number for a new product. Back then, we believed this could be a $200 million business long term. We grew to $33 million in 2008, $78 million in 2009, and then $240 million last year. There you have it, a $200 million business. What's even more exciting is that we believe sales this year will more than triple from last year. We're off to a good start with $150 million in the first quarter alone.
This is more than we sold in the first three years of the business combined. Now you understand why I like this chart so much. The consumer electronics business we participate in moves really fast. Our pace of innovation has moved with the speed of the market. We've already improved our glass composition three times since we launched, and we are working on even better glasses right now in Sullivan Park and at our Harrisburg, Kentucky factory. In fact, we're running a new version of Corning Gorilla Glass this week in Harrisburg. We've also developed a number of finishing techniques that add to the value of our glass. We have a demonstration to show you today. Here with me is Don Clarke. Don is part of our Mechanical Reliability group in R&D. This group has been a key contributor to our success.
You must admit, Don looks very good in his lab coat. An issue we faced early on was inconsistent results on ball drop tests done by our customers. One of our scientists, Jim Price, analyzed the cause of the failure by breaking a lot of Corning Gorilla Glass, and then he invented a solution to eliminate the issue. This substantially increases the performance of Corning Gorilla Glass in these tests. The glass we'll use in the demo is the same as the glass Don is holding in his hand. This thin glass is only one millimeter thick. It takes 25 pieces of this glass stacked up to get to one inch. The ball used in the industry drop test is the ball that Don is now showing in his right hand. It weighs one pound.
The ball we'll use today in our demo, we call the big ball, and it weighs four pounds. Don will drop this ball on our glass, and it will not break. Competitors' glasses would. We've found that demos like this have been very successful with customers to show how our glass outperforms the competition. Frankly, it is much more effective than me and a PowerPoint slide. Go ahead, Don. On the screen, you can see a video of the same test in slow motion. How about some applause for Don? Now I would like to talk about our branding campaign. Hopefully, you have seen some of this, including an ad this week in the Sunday paper. It's been a long time since Corning Incorporated has done a full-fledged consumer branding campaign.
We determined through market research that our Gorilla brand had established a higher level of consumer awareness than we expected. We also found through discussions with customers that there was receptivity to pursuing co-branding together with us. About nine months ago, we kicked off a branding campaign with two key objectives. First, increase the consumer awareness of Gorilla Glass for a media campaign. Second, strengthen the pull from consumer electronics device makers for our product. We've had very positive results so far. You'll see some of the highlights here. We've engaged the top 25 media influencers, and 20 have reported about us to date. Coverage on Yahoo News drew 45 million visits, and as of this morning, the Day of Glass video has been viewed 12,335,549 times and counting. We have had terrific media coverage in print, online, and TV, including a live interview I did on Fox Business News.
Here's a short piece of that video.
Here we go. I'm going to try and scratch. Here's a Nokia phone, and I'm giving it, Cheryl, all of my might. It is perfectly smooth.
This is a Samsung Galaxy Tab. It was launched this fall.
I feel nervous that I'm going to scratch, right? Okay, I'm using the key. Nothing, Cheryl.
To be willing to go on live national TV and have someone try to break your glass, it has to be good. We have developed a new Gorilla Glass website. Please visit us on corninggorillaglass.com. You will see the latest in video news and a list of actual devices that use Gorilla Glass. You can also read about our recent Engadget Award, naming Gorilla Glass as the Display Technology of the Year. We beat out the Apple Retina Display and technology by Dell, HP, and Samsung. That's tough competition. Our second key objective of the branding campaign is to increase our customers' pull for Gorilla. If we co-brand, our position is strengthened. We're beginning to make solid progress. You can see three significant examples of co-branding with Sony for their TV launch, Samsung for their Galaxy Slate launch, and the retail chain Best Buy.
This is all great exposure for us. In January, Best Buy ran a promotional video on Gorilla Glass at their stores and on the website. Here's a short segment of that video.
There are gorillas in the mist at CES, Corning Gorilla Glass. What? What's a glass company doing at an electronics show?
We are here because we've come up with a proprietary product, Corning Gorilla Glass, which is outstanding for today's electronics.
Standing top is really a story for Corning Gorilla Glass, for handhelds, for tablets, notebooks, and TVs.
They made that video on a Wednesday, had it on their website on Friday. That's the pace we move at. Finally, I mentioned in the beginning that we are searching for applications in three new markets: autos, appliances, and architectural. These applications will be further out, but we are finding new uses for Gorilla in a variety of products. Here's a picture of the Hyundai Bluetooth concept vehicle. Hyundai has used Gorilla on the display console. We are also in discussions with a number of car companies to design Gorilla into the sunroof and other glass applications. The strength of Gorilla can allow automakers to significantly reduce the average weight of glass in a vehicle, thereby increasing the fuel economy. With gas at $4 a gallon, this really matters. We are working with a number of companies in the appliance industry. Pictured here is a touch-enabled refrigerator door.
The properties of Gorilla allow glass to be used in a number of ways, resulting in elegant designs, scratch-resistant surfaces, and the ability to incorporate integrated displays. This is an example of a potential application you saw in the Day of Glass video that we've already shipped to customers. The third new market under exploration is architectural. Just last week, Collins Waerman announced that Gorilla Glass is designed into their prototype prefab apartment units, a picture of which is behind me. Gorilla is used in a balcony enclosure and in the glass awning. They exhibited Gorilla Glass just last week at an industry show in Seattle. Collins Waerman is a leading architecture planning and interior design firm specializing in innovative buildings. In summary, in our four short years, we've established a large, fast-growing new platform for Corning.
As I've shown in my favorite slide, sales growth in consumer electronics has been fast and furious. We are making progress in finding additional applications for Gorilla Glass in three new segments. Thanks for your attention today. I have one final brief video that I'd like to share showing potential kitchen applications for Gorilla Glass. Following the video, please join us outside for lunch, and on your way out, you will get a gift from Corning and the Gorilla Glass team.