New York-based smartphone company OndoTech is in talks to buy the iPhone maker, according to reports.
The startup is expected to invest in the iPhone.
Ondo is the first to offer an entirely wireless-connected device and it is in the market to launch its first smartphone, the Ondosmart, next month.
It said it is working on a new device that will compete with Apple’s $649 iPhone SE.
It also plans to build an “automated home security system” for the smart home.
OdoTech plans to invest $1 billion in the company, which has raised more than $3.5 billion, according the Wall Street Journal.
Ondoe said it plans to use its technology in smart locks, security cameras, and smart doorbells.
The company will offer the Oondosmart in the second half of 2019.
Apple is the biggest smartphone maker in the world.
Its latest iPhone SE, the $1,299 iPhone 7, sold well in the U.S. for $999.
Its iPhone 6s and iPhone 6S Plus, which are not as well-known, sold less well.
Oondo says its products can be used in “smart homes and cars, home appliances and other applications, and home automation and security systems”.
OndoeTech says it plans on working with OndaSoft, the Chinese company that makes Ondomix, to bring its product line to market in 2019.
Oondo will start selling Ondoms in the first quarter of 2019, it said.