The two companies are likely to collaborate in coming up with a radically redesigned iPhone 6 towards its rumoured release date in the first half of 2014, reports said.
Specifically, LG is lending its expertise to Apple in the area of bendable display panel and batteries that are slightly arched - two manufacturing capabilities that the Asian firm has recently unveiled.
In a report by Patently Apple, LG is allegedly making the new technologies to other smartphone makers.
"As curved batteries are totally new but strongly required for the lucrative flexible smartphones, we will have a lot of business opportunities," the LG G2 maker was quoted by Patently Apple as saying.
But the same report was vague on who exactly LG is working with.
Earlier this year, an Apple patent document was published, detailing a new manufacturing technique that could lead to the production of irregularly formed iOS device with particular emphasis on the iPhone 6.
The same patent filing mentioned the role of a curved battery, which according to the tech giant is crucial in forging an iPhone that is vastly different from the existing models.
One possibility is a device that is shaped like a thin cylinder, its massive screen not only overlapping on the edges but actually wrapping around the front and back portion.
Renders that adhere to such design principle soon came out with invisible control keys, which actually fade out from sight when not in use.
These incredible concepts now have a high chance of becoming real as Patently Apple indicated on its report that LG intends to do business with Apple.
Purportedly, the same technology will be used to manufacture new phones and tablets, implying of a very unique iPhone 6 and iPads. Smart watches are also in the pipeline, which in turn alludes to the rumoured iWatch.
The supposed partnership would also result to the creation of future iOS devices that are more durable, with resistant to dust and liquid as among its killer features.
To date, and as far as Apple is concerned, the iPhone 6 remains fictional though analysts believe its release date is likely to happen on Q1 2014.
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