“US tech giant Apple is planning to invest in Korean electric components maker LG Innotek to secure a stable supply of 3-D sensing modules for iPhones and iPads to be launched this year, according to news reports on Jan. 9,” Kim Young-won reports for The Investor.
“The affiliate of LG Group said in a regulatory filing on Jan. 8 that it would invest 873.7 billion won (US$820.90 million) to build additional facilities for its mobile camera module and next-generation module business,” Kim reports.
“Korean news outlet Korea Economic Daily speculated that the latest decision came after a meeting between Apple CEO Tim Cook and LG Innotek CEO Park Jong-seok in November last year,” Kim reports. “The meeting was rare, since the Apple CEO does not usually directly participate in negotiations with parts suppliers, the news outlet reported.”
Read more in the full article here.
MacDailyNews Take: Locking up the supply and keeping it out of competitor’s hands is likely an additional benefit, too.
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