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Apple Supplier LG Innotek announced a breakthrough high-performance eco-friendly magnet that doesn’t use rare earth elements

1 cover new magnet

Apple supplier LG Innotek announced earlier this week that it had successfully developed a high-performance, eco-friendly magnet that does not use heavy rare earth elements, making it the first company in the industry to achieve this milestone.

Korea Times reports that “Magnets are essential components in a wide range of products that require activation, including smartphone actuators, audio speakers and vehicle motors.

Heavy rare earth elements are important materials for magnets, as they help maintain magnetic properties at high temperatures. Most of these elements are produced in specific countries, like China, which can lead to price fluctuations and supply problems due to geopolitical risks. Furthermore, mining these elements generates carbon dioxide emissions, causing significant environmental pollution.

The company expects the development of this product to significantly decrease reliance on specific countries for heavy rare earth elements, helping to stabilize supply chains. Additionally, it projects that this advancement will reduce raw material costs for magnet production to about 60 percent of previous levels. The development is anticipated to attract major global clients that prioritize sustainability.”

Considering that Apple is committed to being 100% carbon neutral by 2030 for its supply chain and products, the LG breakthrough could certainly be considered for future Apple devices such as the iPhone, HomePod and more.

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