[KH explains] Why Korea has been so quick to adopt ‘global minimum tax’
Mass walkout by trainee doctors nears deadline as health services crippled
Teachers and native English instructors now required to undergo drug testing
[Today’s K-pop] Karina of aespa is dating actor Lee Jae-wook: report
Russia sending North Korea food in return for arms: Seoul defense chief
Yoon says 2,000 increase in med school quota non-negotiable
Legality issues linger as nurses fill treatment void Tuesday
Why Cha Eun-woo’s name keeps popping up in politics
University ranking hierarchy leads to wage gap later in life: study
Ultrafine dust levels this year could be severe: ministry
Apple supplier in talks to acquire LG’s in-car wireless charging businessBy Lee Ji-yoon
Published : March 21, 2022 - 16:32
“Discussions are underway to acquire the in-car wireless smartphone charging business as part of efforts to diversity business portfolio and bolster competiveness,” the firm said in a regulatory filing in response to a news report earlier in the day.
According to the report, BH is seeking to acquire LG’s technology and human resources that used to be affiliated with the VS or vehicle component solutions division. The deal size is reportedly estimated at 140 billion won ($115 million).
In-car wireless smartphone charging is considered one of the key technologies crucial for connected driving. Since entering the market in 2017, LG had supplied related solutions to carmakers like General Motors.
The latest deal comes as LG has revamped operations since it announced its pullback from the smartphone market in April last year, citing years of operating losses.
BH, a Kosdaq-listed firm established in 1999, produces the rigid flexible printed circuit boards used for high resolutions displays, supplying the parts to Samsung and Apple. The firm is also considered one of the suppliers to the upcoming iPhone 14.
Last year, the firm posted 1.3 trillion won in sales and 71 billion won in operating profits. For the upcoming deal, the firm set up a new joint venture, called BH EVS, along with its own parts-making unit DKT, in a move to expand its presence in the automotive electronics sector.
[Herald Interview] Rival heir to Kim Ju-ae unlikely to appear: unification minister
Coupang reports first profitable year
Main opposition wrestles with exodus over nomination spat