CORNING, N.Y., April 29 -- While Corning Inc. faces serious challenges, it will succeed by capitalizing on its strengths in the telecommunications, advanced materials, information display and environmental markets, said James R. Houghton, chairman and CEO, at Corning's annual shareholder's meeting last week. Houghton said Corning continues to believe the telecommunications industry has hit bottom but that demand will stay low for the foreseeable future. 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