LG corporation, a South Korean multinational conglomerate corporation’s subsidiary, LG Chem, will manufacture batteries for iPhone 9, which is expected to release next year.
According to media reports, LG Chem has invested hundreds of billions of won in a dedicated line for the purpose and will produce “L-shaped” batteries for next year’s iPhone.
However, LG Chem’s spokesperson denies responding queries about client companies. Apple also could not be immediately reached for comment.
LG Chem shares rose 3.7 percent in morning trade to their highest level since April 2016.