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MarketScreener Homepage  >  Equities  >  Italian Stock Exchange  >  Telecom Italia    TIT   IT0003497168

TELECOM ITALIA

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Telecom Italia : TIM and Corning Sign Agreement to Drive Communications Innovation and Synergy

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02/12/2019 | 05:45am EST

TIM and Corning Sign Agreement to Drive Communications Innovation and Synergy

02/12/2019 - 11:09 AM

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Companies plan to collaborate in fostering smart infrastructure for next generation network applications in Italy


TIM (NYSE:TIM) and Corning Incorporated (NYSE:GLW) announced today they have entered a joint agreement to explore cooperation on a number of network applications and services.

TIM and Corning  plan to explore innovations in fiber technologies and 5G, as well as next-generation data-driven services such as the Internet of Things (IoT), smart cities, and artificial intelligence (AI). The two companies will focus on the evolution of infrastructure and broadband customer network platforms to better support IoT and 5G requirements as these trends grow.

The memorandum of understanding (MoU) between the two businesses is also intended to foster greater cooperation with other technology providers and industry forums, enabling ongoing innovation and sharing of best practices.

'TIM's goal is to cooperate today with companies that can help us remain a leader in communication services into the future as we accelerate our evolution towards the network and services of tomorrow,' said Lucy Lombardi, Head of Digital and Ecosystem Innovation at TIM. 'We have chosen to work with Corning based on their leadership in materials science, innovation and fiber technology. This MoU is based on a shared vision of transformation through network openness, virtualization and simplification to drive a superior digital customer experience.'

'Corning prides itself on technology investments that help create new markets and drive industries to challenge what was once thought impossible. We collaborate with telecommunications operators and network solutions providers around the world to develop the smart infrastructure that our future global economy will rely on,' said Claudio Mazzali, senior vice president of technology, Corning Optical Communications. 'This partnership intends to  accelerate the delivery of effective solutions that enable 5G, IoT, and AI as part of TIM's digital transformation to bring next-generation services to its customers in Italy.'

 

About TIM

The main telco operator and ICT provider in Italy, TIM's offer portfolio includes landline and mobile voice services, data, premium digital content - films, music and games - and IT solutions. TIM's offer is focused on delivering the best digital journey to its customers through smart, flexible and scalable bundles and convergent solutions that rely on TIM's state-of-the-art network (16 million kilometers of fiber laid in October 2018 connecting 2,500 municipalities and 19 million homes, over 98% of the population connected with LTE). 

TIM is also TIM Brazil ,Sparkle and Olivetti.

www.telecomitalia.com

 

About Corning Incorporated

Corning (www.corning.com) is one of the world's leading innovators in materials science, with a more than 165-year track record of life-changing inventions. Corning applies its unparalleled expertise in glass science, ceramic science, and optical physics along with its deep manufacturing and engineering capabilities to develop category-defining products that transform industries and enhance people's lives. Corning succeeds through sustained investment in RD&E, a unique combination of material and process innovation, and deep, trust-based relationships with customers who are global leaders in their industries.

Corning's capabilities are versatile and synergistic, which allows the company to evolve to meet changing market needs, while also helping our customers capture new opportunities in dynamic industries. Today, Corning's markets include optical communications, mobile consumer electronics, display technology, automotive, and life sciences vessels. Corning's industry-leading products include damage-resistant cover glass for mobile devices; precision glass for advanced displays; optical fiber, wireless technologies, and connectivity solutions for state-of-the-art communications networks; trusted products to accelerate drug discovery and delivery; and clean-air technologies for cars and trucks.

 

Rome, 12 February 2019

Download the pdf version of the press note

Disclaimer

Telecom Italia S.p.A. published this content on 12 February 2019 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 12 February 2019 10:44:03 UTC

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Financials (€)
Sales 2018 19 160 M
EBIT 2018 1 574 M
Net income 2018 -605 M
Debt 2018 25 524 M
Yield 2018 0,43%
P/E ratio 2018 -
P/E ratio 2019 7,83
EV / Sales 2018 1,88x
EV / Sales 2019 1,84x
Capitalization 10 480 M
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Mean consensus OUTPERFORM
Number of Analysts 22
Average target price 0,60 €
Spread / Average Target 18%
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Managers
NameTitle
Luigi Gubitosi Chief Executive Officer & Executive Director
Fulvio Conti Chairman
Piergiorgio Peluso CFO, Head-Administration, Finance & Control
Roberto Mazzilli Head-Information Technology & Security Compliance
Elisabetta Romano Chief Technology Officer
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