(Image source: TDK Corp.)

Asian Tech Press (Jan 7) -- Apple's iPhone battery supplier TDK Corp. seeks to double revenue from its lithium-ion battery business in the next five years by expanding the use of batteries beyond the smartphone and personal computer sectors, an executive said.

The Tokyo-based electronic components maker is a key supplier to many of the world's top smartphone, tablet and game console brands, and a surge in sales triggered by COVID-19 has boosted the company's financial results, Bloomberg reported.

TDK derives half of its revenue from its Amperex Technology Limited (ATL)'s battery business, and ATL achieved revenue of 740 billion yen ($6.4 billion) in fiscal 2021.