Samsung is considering sourcing batteries from LG to claw itself out from its self-inflicted battery crisis.
Samsung currently purchases its battery from its affiliate Samsung SDI and China’s Amperex Technology.
Major Korean Newspaper Chosun Ilbo has reported a 90% probability that Samsung will be procuring batteries from its South Korean competitor LG, however, representatives from both companies have yet to provide an official statement.
LG Chem makes phone batteries for its affiliate LG Electronics and serves as a supplier to tech giant Apple Inc.
Samsung Electronic was forced to recall 2.5million of its much awaited Samsung Note 7. The phones become notorious for catching fire and were even banned from flights for being a safety hazard.
Earlier this year Samsung took a huge blow, incurring losses of about $5billion due to its defective Note 7. Samsung decided to recall the phones in an attempt to protect its brand image in the industry but have been struggling to recover financially. The company even tried giving customers an incentive of $100 to trade their Note 7 for another Samsung Phone but to no avail.
Looking to the future, Samsung will be launching its new Samsung s8 phone in April 2017.