Optiemus Infracomm Partners with Corning, Expands into Screen Protector Market
Optiemus Infracomm, a notable electronics manufacturer, is stepping into the screen protector arena. This move comes following a strategic agreement with Corning, a US-based company renowned for producing durable cover glass for mobile phones. The collaboration involves a glass supply and trademark license agreement. The company officially announced this development in a filing with the stock exchange. This strategic move signifies Optiemus Infracomm's foray into a new product segment, strengthening its presence in the ever-evolving mobile device accessory market.
As per the terms of the agreement, Optiemus is granted a license to market these screen protectors featuring the Corning trademark in both Indian and international markets. The stock exchange filing stated, "Corning will provide the Company with a global, non-exclusive, non-transferable, and royalty-free license to sell screen protectors with the 'Engineered by Corning' trademark in the Indian and International Markets". This development opens avenues for Optiemus Infracomm to offer high-quality screen protection solutions to a broad audience.
The initial duration of this agreement spans three years from the effective date, with specific financial details remaining undisclosed. The move aligns with Optiemus's strategic vision to diversify its product offerings and tap into the lucrative market of tempered glass screen protectors.
According to a report from the India Cellular and Electronics Association (ICEA), the smartphone user base in India exceeds 600 million. The demand for tempered glass screen protectors is projected to experience a compounded annual growth rate (CAGR) of 10%, surging from 342.35 million pieces in 2022 to an estimated 554 million in 2025. This underscores the considerable market potential that Optiemus Infracomm is poised to explore and capture with its entry into the screen protector segment.