LG Chem setting up L shaped battery production unit for Apple’s iPhone 9

Apple’s iPhone 9 is slated to be launched in 2018.

On Friday, a Korean newspaper reported South Korean firm LG Chem, in an exclusive deal, is slated to provide batteries to Apple’s next flagship, iPhone 9, which is likely to be launched in 2018.

The South Korea Economic Daily has reported citing an anonymous industry source as saying, LG Chem investing hundreds of billions of won in a dedicated line for the purpose of producing “L-shaped” batteries for Apple’s next gen iPhone.

LG Chem’s spokesman stated it it does not respond to inquiries regarding client companies.

Apple could not be immediately reached for comment.

With the news reaching the market, LG Chem’s shares jumped by 3.7% to touch its highest ever peak since April 2016.

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