Update: Apple confirmed the purchase with its usual boilerplate statement to TechCrunch:Apple buys smaller technology companies from time to time, and we generally do not discuss our purpose or plans.”

Apple has acquired LuxVue Technology, a company that develops low-power, microLED-based display technology for consumer tech products, according to a report from TechCrunch.

LuxVue had managed to remain fairly quiet over the past few years, and what we know is that the company develops low-power, micro-LED-based displays for consumer electronics. We’ve heard Apple acquired the company to add to their hardware innovations area.

Apple has not yet confirmed the purchase, but TechCrunch adds that it’s “heard Apple acquired the company to add to their hardware innovations area.”  expand full story