LG Innotek shares rally on news of Appleā€™s iPhone output increase


    LG Innotek Co. shares rallied on Thursday after a news report of Apple Inc.ā€™s planned increase in its new iPhone production.

    Shares of the South Korea-based Apple supplier
    011070,
    +7.61%

    rose as much as 8.3% in early trade. They pared gains after Bloomberg reported that Apple had asked suppliers to build as many as 90 million next-generation iPhones this year, up 20% from the usual.

    LG Innotek shares were recently 7.4% higher at KRW240,000, outperforming the benchmark Kospi indexā€™s 0.2% gain.

    The company, affiliated with consumer-electronics giant LG Electronics Inc., makes camera modules and other parts for iPhones.

    Write to Kwanwoo Jun at kwanwoo.jun@wsj.com



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