Washington, DC 20549

                                    FORM 8-K

                                 CURRENT REPORT
     Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934

        Date of Report: (Date of earliest event reported) October 7, 2004

                              CORNING INCORPORATED
             (Exact name of registrant as specified in its charter)

New York                             1-3247                 16-0393470 
(State or other jurisdiction         (Commission            (I.R.S. Employer
of incorporation)                    File Number)           Identification No.)

One Riverfront Plaza, Corning, New York                     14831
(Address of principal executive offices)                    (Zip Code)

(607) 974-9000
(Registrant's telephone number, including area code)

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions:

[ ] Written communications pursuant to Rule 425 under the Securities Act 
    (17 CFR 230.425)

[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act
    (17 CFR 240.14a-12)

[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the 
    Exchange Act (17 CFR 240.14d-2(b))

[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the 
    Exchange Act (17 CFR 240.13e-4(c))

Item 2.05 Costs Associated with Exit or Disposal Activities

Item 2.06 Material Impairments

The following information is filed pursuant to Item 2.05, "Costs Associated with
Exit or Disposal Activities" and Item 2.06, "Material Impairments."

On October 6, 2004, Corning  Incorporated issued a press release announcing that
Corning will  recognize  certain  non-cash  charges  against its results for the
third quarter ended  September 30, 2004. A copy of the press release is attached
as Exhibit 99, the contents of which are incorporated herein by reference.

Item 9.01 Financial Statements and Exhibits

(c) Exhibits

    99       Press Release dated October 6, 2004 issued by Corning Incorporated


Pursuant  to the  requirements  of the  Securities  Exchange  Act of  1934,  the
Registrant  has duly  caused  this  report  to be  signed  on its  behalf by the
undersigned thereunto duly authorized.

                                   CORNING INCORPORATED

Date: October 7, 2004              By /s/ KATHERINE A. ASBECK
                                          Katherine A. Asbeck
                                          Senior Vice President and Controller

                                                                  Exhibit 99

     FOR RELEASE -- OCTOBER 6, 2004

     Media Relations:                         Investor Relations Contact:
     Daniel F. Collins                        Kenneth C. Sofio
     607-974-4197                             607-974-7705
     collinsdf@corning.com                    sofiokc@corning.com

                      Corning To Take Third-Quarter Charges

     CORNING,  N.Y. -- Corning  Incorporated (NYSE: GLW) announced today that it
     will take  non-cash  charges in the range of $2.8  billion to $2.9  billion
     against its third-quarter  results. The charges will include  approximately
     $1.4 billion to impair goodwill related to its Telecommunications  segment;
     approximately  $420  million  to impair  fixed  assets  and  equity  method
     investments  in its  Telecommunications  segment;  and up to $1  billion to
     establish a valuation allowance against certain deferred tax assets.

     The company  determined its goodwill charge in accordance with Statement of
     Financial   Accounting  Standards  (SFAS)  No.  142,  "Goodwill  and  Other
     Intangible  Assets."  At the end of the second  quarter,  Corning  had $1.7
     billion  in  goodwill,  with  approximately  $1.6  billion  related  to the
     Telecommunications segment.

     The goodwill  recoverability  assessment  included  reviewing the company's
     long-term view of the telecommunications market, projections of future cash
     flows, and the estimated fair market value of the overall business segment.
     The company completed this assessment today after a process concluding with
     review by Corning's board of directors.

     James B. Flaws, vice chairman and chief financial officer,  said, "Although
     our results in the Telecommunications segment in 2003 and 2004 have been on
     track  with our  projections,  we are not seeing  significant  signs of the
     broad  uplift in  industry  conditions  previously  projected  for 2005 and
     beyond.  As a result,  we have updated and lowered our  estimates of future
     cash  flows  for the  Telecommunications  segment.  Our  revised  cash flow
     projections  no  longer  support  the  goodwill  related  to this  segment.
     Therefore, it is appropriate that we take an impairment charge."


     Corning To Take Third-Quarter Charges 
     Page 2

     Telecommunications pricing and mix remains depressed
     Flaws  said,  "The  primary  changes in our  projections  for this  segment
     include lower  estimates of future pricing and a lower mix of premium fiber
     products.  These revised forecasts reflect new estimates of industry growth
     patterns,  competitive  conditions,  and  future  customer  demand.  We now
     estimate  that  depressed  pricing  and low  demand for  premium  fiber may
     persist  well  beyond  2005,  and  the  industry   rebound  from  depressed
     conditions may be slower and less robust than previously forecast."

     Flaws said the company remains  pleased with the current  strength in North
     American   telecommunications   sales,  due  in  large  part  to  Corning's
     participation in Verizon  Communications  fiber-to-the-premises  build out.
     However,  it is not  enough  to  signal  a  broad  recovery  in the  global
     telecommunications market.

     In addition to the goodwill  impairment  charge,  Corning will record fixed
     asset and equity investment  impairment charges approximating $420 million.
     These  charges  primarily  relate to the phase II expansion of its Concord,
     N.C. optical fiber facility,  which was only partially completed before the
     entire  complex was  mothballed in October 2002. "We no longer believe that
     the global  optical  fiber market will ever reach a demand level that would
     justify completing this facility," Flaws said.

     Corning will continue to mothball and depreciate  the separate,  previously
     operated  portion of the Concord  facility.  Flaws said,  "If current fiber
     demand  remains  on the pace now  forecast,  we could  begin to reopen  the
     original portion of our Concord facility as early as 2006."

     Flaws also said that Corning is currently  operating its  Wilmington,  N.C.
     optical fiber facility at less than full capacity,  and the addition of the
     Concord  manufacturing plant would result in Corning having the capacity to
     produce more than double today's fiber volumes.

     Deferred tax assets
     In addition, Corning said that it would record a charge of up to $1 billion
     to establish a valuation  allowance  against certain deferred tax assets in
     accordance with SFAS No. 109, "Accounting for Income Taxes." This valuation
     allowance  primarily relates to Corning's U.S.  deferred tax assets.  "As a
     result  of the  impairment  charges  and our  lowered  projections  for the
     Telecommunications  segment,  our  largest  U.S.-based  business,  we  have
     concluded that we must provide a valuation  allowance  against our deferred
     tax assets at this time," Flaws said.


     Corning To Take Third-Quarter Charges
     Page 3

     SFAS 109  requires  that  greater  weight be given to  previous  cumulative
     losses than the outlook for future  profitability when determining  whether
     deferred tax assets can be used. Flaws said, "We have incurred  significant
     losses  in  the  United   States  due   primarily   to   telecommunications
     restructuring  and  impairment  charges  recorded over the last four years.
     Although Corning's performance is improving, it is primarily due to our LCD
     growth in Asia. Our U.S. business,  which includes a significant portion of
     our  global   research,   development   and   engineering   and   corporate
     infrastructure spending, is operating at a loss."

     Flaws said, "The  establishment of this valuation  allowance is required by
     SFAS 109. We remain  committed to returning to profitability in the U.S. so
     that we will  eventually be able to use the majority of these  deferred tax
     assets before they expire." In general, U.S. tax laws allow 20 years to use
     operating loss carry-forwards.

     This  valuation  allowance  will be  reviewed  periodically  and  could  be
     reversed  partially  or totally  after the company has  achieved  sustained
     profitability  in the United  States.  Until then,  Corning's tax provision
     will include  only the net tax expense  attributable  to its  international
     operations.  This  change  could  reduce  Corning's  results  in the fourth
     quarter  by up to $0.01 per  share.  Corning  does not expect the change to
     have a material impact on the company's 2005 results.

     Flaws said that the  charges in the range of $2.8  billion to $2.9  billion
     are  non-cash  and  will  have no  impact  on the  company's  cash  flow or
     liquidity.  Corning's debt- to-capital ratio will increase to approximately
     43 percent as a result of the charges,  and remains well below any covenant
     tests in its existing revolving credit agreement.

     "These accounting charges are clearly disappointing,  particularly in light
     of Corning's  recent  improved  performance.  Absent these new charges,  we
     expect  our  third  quarter  results  to  be  in  line  with  our  previous
     expectations," he said.

     Conference call information
     The company  will host a  conference  call to discuss  these  third-quarter
     charges at 8:30 a.m. EST on Thursday,  October 7. To access the call,  dial
     (773) 756-4786. The password is Corning Conference.  The leader is Sofio. A
     reply of the call will begin at  approximately  10:30 a.m. EST and will run
     through 3 p.m. EST, Wednesday,  Oct. 20. To listen, dial (420) 220-4087, no
     pass code is  required.  To listen to a live  audio  webcast of the call at
     8:30 a.m.  on  Thursday,  October 7,  please go to  Corning's  Web site and
     follow  the  instructions:  http://www.corning.com/investor_relations.  The
     audio webcast will be archived for one year following the call.


     Corning To Take Third-Quarter Charges
     Page 4

     Presentation of Information in this New Release
     Corning's  earnings estimate for the third quarter is a non-GAAP  financial
     measure as it excludes the impact of impairment charges for goodwill, fixed
     assets and equity  investments;  charges  associated  with  establishing  a
     valuation  allowance  against  certain  deferred tax assets;  any potential
     gains or losses arising from previously  announced  restructuring  actions;
     previously  announced loss on the sale of the frequency  controls business;
     any further  adjustments  to the asbestos  settlement  reserve  required by
     movements  in  Corning's   stock  price;   and  income  from   discontinued
     operations. The company believes presenting earnings estimates that exclude
     these items is helpful in understanding  Corning's operating results.  This
     earnings   estimate   is   reconciled   on   the   company's   website   at

     About Corning Incorporated
     Corning Incorporated  (www.corning.com) is a diversified technology company
     that concentrates its efforts on high-impact growth opportunities.  Corning
     combines its expertise in specialty glass, ceramic materials,  polymers and
     the  manipulation  of the  properties  of light,  with  strong  process and
     manufacturing   capabilities   to  develop,   engineer  and   commercialize
     significant  innovative  products  for the  telecommunications,  flat panel
     display, environmental, semiconductor, and life sciences industries.

     Forward-Looking and Cautionary Statements
     This press  release  contains  forward-looking  statements  that  involve a
     variety of business risks and other  uncertainties  that could cause actual
     results to differ  materially.  These risks and  uncertainties  include the
     possibility  of changes or  fluctuations  in global  economic and political
     conditions;  tariffs,  import  duties and  currency  fluctuations;  product
     demand  and   industry   capacity;   competitive   products   and  pricing;
     manufacturing  efficiencies;  cost  reductions;  availability  and costs of
     critical   components   and   materials;   new  product   development   and
     commercialization;  order activity and demand from major customers; capital
     spending by larger  customers in the liquid  crystal  display  industry and
     other  businesses;  changes  in  the  mix  of  sales  between  premium  and
     non-premium  products;  facility  expansions and new plant start-up  costs;
     possible  disruption in commercial  activities  due to terrorist  activity,
     armed conflict,  political instability or major health concerns; ability to
     obtain financing and capital on commercially reasonable terms; adequacy and
     availability  of  insurance;  capital  resource  and cash flow  activities;
     capital spending;  equity company activities;  interest costs;  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;  changes  in key  personnel;  stock  price
     fluctuations; and adverse litigation or regulatory developments.  These and
     other risk factors are identified 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.