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CORNING, N.Y., Nov 13, 2014 - (ACN Newswire) - Today Corning Incorporated (NYSE:GLW) and Zhone Technologies, Inc. (NASDAQ: ZHNE), a leading provider of fiber access transformation, announced a non-exclusive agreement to co-market an all-fiber network solution capable of deploying passive optical local area network (POL) and cellular distributed antenna systems (DAS) on a common infrastructure -- Corning's ONE(TM) Wireless Platform.
The result will be quicker installation, a smaller equipment footprint, and lower cost for enterprise companies.
"To meet today's surging bandwidth demands, converged networks are becoming a necessity," said James Norrod, president and CEO, Zhone Technologies. "Zhone's alliance with Corning will enable enterprise customers to have faster, more reliable service on a unified network that is easy to implement and will optimize the network infrastructure."
In the past, companies needed to use solutions from multiple vendors to build separate information technology and cellular networks. Leveraging Zhone's innovative POL solution, FiberLAN, and Corning's ONE Wireless Platform, customers can now deploy an integrated fiber network solution that includes both the electronics and passive fiber optic components in one converged solution.
"This agreement capitalizes on Corning's expertise in optical connectivity and wireless design, and Zhone's enterprise-ready fiber access solutions," added Stuart Hoiness, senior vice president of enterprise markets for Corning Optical Communications. "We're bringing together two leading providers of fiber-based solutions to deliver robust bandwidth to the edge of the network, giving customers greater flexibility, more scalability, and freedom from costly 'rip and replace' upgrades in the future."
For more information, please visit the ONE Knowledge Center; or contact Vince Ferretti at Corning or Brian Caskey at Zhone Technologies.
Forward-Looking and Cautionary Statements
This press release contains "forward-looking statements" (within the meaning of the Private Securities Litigation Reform Act of 1995), which are based on current expectations and assumptions about Corning's financial results and business operations, that involve substantial risks and uncertainties that could cause actual results to differ materially. These risks and uncertainties include: the effect of global political, economic and business conditions; conditions in the financial and credit markets; currency fluctuations; tax rates; product demand and industry capacity; competition; reliance on a concentrated customer base; manufacturing efficiencies; cost reductions; availability of critical components and materials; new product commercialization; pricing fluctuations and changes in the mix of sales between premium and non-premium products; new plant start-up or restructuring costs; possible disruption in commercial activities due to terrorist activity, armed conflict, political or financial instability, natural disasters, adverse weather conditions, or major health concerns; adequacy of insurance; equity company activities; acquisition and divestiture activities; the level of excess or obsolete inventory; the rate of technology change; the ability to enforce patents; product and components performance issues; retention of key personnel; stock price fluctuations; and adverse litigation or regulatory developments. These and other risk factors are detailed in Corning's filings with the Securities and Exchange Commission. Forward-looking statements speak only as of the day that they are made, and Corning undertakes no obligation to update them in light of new information or future events.
About Zhone Technologies
Zhone Technologies, Inc. (NASDAQ: ZHNE) is a global leader in fiber access transformation for service providers and enterprise networks, serving more than 750 of the world's most innovative network operators. The IP Zhone is the only solution that enables service providers to build the network of the future today, supporting end-to-end Voice, Data, Entertainment Social Media, Business, Mobile Backhaul and Mobility service. Zhone is committed to building the fastest and highest quality All IP Multi-Service solution for its customers. Zhone is headquartered in California and its products are manufactured in the USA in a facility that is emission, wastewater and CFC free.
Zhone, the Zhone logo, and all Zhone product names are trademarks of Zhone Technologies, Inc. Other brand and product names are trademarks of their respective holders. Specifications, products, and/or product names are all subject to change without notice.
About Corning Incorporated
Corning (www.corning.com) is one of the world's leading innovators in materials science. For more than 160 years, Corning has applied its unparalleled expertise in specialty glass, ceramics, and optical physics to develop products that have created new industries and transformed people's lives. Corning succeeds through sustained investment in R&D, a unique combination of material and process innovation, and close collaboration with customers to solve tough technology challenges. Corning's businesses and markets are constantly evolving. Today, Corning's products enable diverse industries such as consumer electronics, telecommunications, transportation, and life sciences. They include damage-resistant cover glass for smartphones and tablets; precision glass for advanced displays; optical fiber, wireless technologies, and connectivity solutions for high-speed communications networks; trusted products that accelerate drug discovery and manufacturing; and emissions-control products for cars, trucks, and off-road vehicles.
Edelman for Zhone Public Relations:
Aurora Arlet
+1-404-460-8578
aurora.arlet@edelman.com
Corning Optical Communications Contact:
Isolde Karro
+1-828-901-6406
karroi@corning.com
Corning Communications Contact:
Joe Dunning
+1-607-974-5006
dunningjm@corning.com
Investor Relations Contact:
Ann H. S. Nicholson
+1-607-974-6716
nicholsoas@corning.com
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This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Zhone Technologies, Inc via Globenewswire
Topic: Press release summary
Source: Zhone Technologies
https://www.acnnewswire.com
From the Asia Corporate News Network
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