Asia Tech Wire (Jan 24) -- LG Innotek, the electronic component manufacturing unit under LG Group, on Wednesday announced the signing of an agreement to take a stake in and partner with Taiwanese automotive lens maker AOE Optronics Co., Inc.

Under the agreement, LG Innotek invests in shares of AOE Optronics, a subsidiary of Asia Optical Co., Inc, Taiwan-based optical component manufacturing corporation, and the two companies will closely cooperate in the area of core optical components through a strategic partnership.

LG Innotek decided to make this investment to raise its product competitiveness as well as strengthen business competitiveness in optical solutions.

The Korean company is expanding its capabilities and technologies in the Optics solution business accumulated with its global No.1 smartphone camera modules into new areas such as vehicles and XR.

And the two companies plan to maximize quality and raise cost competitiveness by optimizing design and processes between lens and camera modules.