Is Apple’s Latest Acquisition for the iWatch?
Apple (NASDAQ:AAPL) has acquired LuxVue Technology, a company that specializes in low-energy micro-LED displays, reports TechCrunch. Apple confirmed the purchase with its standard acquisition boilerplate statement that reads, “Apple buys smaller technology companies from time to time, and we generally do not discuss our purpose or plans.” Although the statement does not explicitly address the purchase of LuxVue Technology, Apple has previously released identical statements following the rumored acquisitions of companies that were later confirmed.
While there is not a lot of information on LuxVue Technology, last December VentureBeat reported that the company had recently filed several patents related to its micro-LED display technology. Energy-efficient, micro-LED technology may one day become the standard display technology used in wearable tech devices, and it is even rumored to be the display tech used in the next Google (NASDAQ:GOOG) (NASDAQ:GOOGL) Glass model. Energy efficient components are becoming increasingly important in the consumer electronics industry as mobile devices and wearable tech products continue to get smaller while acquiring more energy-consuming functions and features.
Apple typically purchases companies in order to acquire specific technologies to augment or create a new product. Last year, John Doerr — a partner at renowned venture capital firm Kleiner Perkins Caufield & Byers — said LuxVue had developed a technical breakthrough in displays, reports TechCrunch. This has led some industry watchers to speculate that LuxVue Technology’s micro-LED technology could be intended for Apple’s long-rumored iWatch or other similar wearable tech product. However, it is also possible that the energy-efficient display technology is simply intended to improve Apple’s current lineup of mobile products.