LG Chem to provide L-shaped batteries for Apple iPhone next year

South Korea's LG Chem Ltd is slated to exclusively provide batteries for Apple's iPhone 9 which is likely to be launched next year, a Korean newspaper reported on Friday. 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, the Korea Economic Daily reported citing an unnamed chemical industry source. A spokesman for LG Chem said it does not respond to inquiries about client companies. Apple could not be immediately reached for comment.

LG Chem shares rose 3.7 percent in morning trade to their highest level since April 2016. They later pared again to be up 0.5 percent. This comes days after a report claimed that the wireless charging accessory rumoured to accompany Apple's iPhone 8 might be subject to a slight delay adding to list of technical problems with the phone that has created a sense of “panic” in the company’s headquarters.

The report had also added that Apple engineers are having a tough time with the iPhone 8’s rumoured 3D camera sensors. This could be a cause of worry given reports that Apple may abandon the venerable Touch ID sensor for a 3D-based facial recognition system, as predicted by KGI. An earlier report confirmed that Apple was working on a 3D-based facial recognition system.

With inputs from Reuters

Updated Date: Jul 21, 2017 22:20 PM