LG Chem developing batteries for smart watch business

LG Chem said Sunday it has developed a smart-watch battery called Hexagon, adding that it is the world’s first hexagonal battery.

The shape gives 25 percent longer life than rectangle batteries.

The company said it has been working on developing circle-shaped batteries for smart watches in order to meet rapidly increasing market demand, adding that about 90 percent of batteries being used in wristwatches are circle-shaped and many IT companies are expected to introduce new products with such batteries this year.

According to global market researcher Gartner, smart watches will take 40 percent of the market share in the world’s wristwatches by 2016 and more than 100 million smart watches are expected to be shipped by 2020.