Samsung in talks with LG Chem for new smartphone batteries: Nikkei
- Donald Trump Sworn in as 45th U.S. President
- Wall Street ends higher as Trump becomes president
- Walgreens Boots Alliance (WBA) Said to Face Antitrust Concern for Rite Aid (RAD) Fix - Bloomberg
- Bristol-Myers Squibb (BMY) Says It Won't Pursue Accelerated U.S. Regulatory Pathway for Opdivo Plus Yervoy in Lung Cancer
- Apple (AAPL) Sues Qualcomm (QCOM) Over Patent Royalties in Antitrust Case - Bloomberg
The logo of Samsung Electronic is seen at its headquarters in Seoul, South Korea, July 4, 2016. Picture taken on July 4, 2016. REUTERS/Kim Hong-Ji/File Photo
Get the Pulse of the Market with StreetInsider.com's Pulse Picks. Get your Free Trial here.
(Reuters) - Samsung Electronics Co Ltd <005930.KS> is in talks with LG Chem Ltd <051910.KS> to supply batteries for its new smartphones, the Nikkei newspaper reported, citing sources.
Samsung, the world's biggest smartphone maker, scrapped production of the fire-prone Note 7 and said it would take a hit to its operating profit of about $3 billion over the next two quarters as a result.
The company had blamed faulty batteries for the original problem in its flagship device, but has given no indication about the cause of the overheating seen in the replacements.
The companies are discussing ways to supply batteries to Samsung's new smartphones starting next year, the report said. (http://s.nikkei.com/2ew8B9f)
Samsung's subsidiary, Samsung SDI Co Ltd <006400.KS>, is the dominant battery supplier for the Note 7, supplying around 70 percent of the batteries globally, according to analyst estimates.
Samsung and LG Chem were not immediately available for comment outside regular business hours.
(This version of the story corrects device's name in second paragraph to "Note 7" from "Galaxy 7")
(Reporting by Narottam Medhora in Bengaluru; Editing by Sriraj Kalluvila)
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Iran rescuers find three bodies at collapsed building, hopes for survivors fade
- Turkey orders more than 400 arrests in post-coup probes: report
- Romanian nightclub fire sends dozens to hospitals
Create E-mail Alert Related CategoriesReuters
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!