The US-South Korea alliance manifests itself in every field. LG Innotek will collaborate with Apple to develop iPhone cameras.
Apple has been having problems with its supply chain lately. Actually, this is a global problem and many smartphone companies suffer from the same problem. News came from South Korea that Apple may have signed a long-term contract with LG’s subsidiary LG Innotek to supply iPhone components. This is hinted at by LG Innotek’s investment in the expansion of one of the company’s South Korean factories that produce camera modules for smartphones.
It is estimated that around 60% of LG Innotek’s revenue in 2020 comes from iPhone parts. The company brings together camera modules based on Sony and Samsung image sensors. These are then sent to Foxconn to launch Apple smartphones. LG Innotek’s revenue in this business grew 20% last year to reach this $ 8.6 billion.
According to sources, LG Innotek camera modules stand out among competing products from other companies such as Sharp, especially for Apple’s high-quality image stabilization technology. On this basis and due to the conclusion of a long-term contract, LG Innotek decided to invest $ 496 million in the expansion of the facility for the production of camera modules.
Among the product line, smartphone cameras remain one of the few factors that can attract the consumer and highlight marketing. This is exactly what LG Innotek does today. It hopes not only to remain as Apple’s supplier, but also to attract the attention of other smartphone manufacturers with its products.