Apple recently confirmed that the company acquired LuxVue, an energy-efficient LED display manufacturer. It is unclear how much money Apple paid for the acquisition of LuxVue, but so far the company has raised a total of $43 million. It is reported that the LuxVue team will join Apple's hardware innovation department.
The LED display produced by LuxVue does not consume much power, so in case, Apple can apply this technology to the production process of iPhone and iPad screens to improve the battery life.
An Apple spokesperson confirmed the acquisition but used only Apple's usual statement about the acquisition: "Apple has acquired small technology companies from time to time, and we usually do not discuss the purpose of the acquisition or plan."