Apple supply partner Luxshare has recently scored an iPhone assembly factory after securing a majority stake in the location.
Luxshare will be purchasing a 62.5% stake in the Kunshan factory owned by rival manufacturer Pegatron. The deal is believed to be worth 2.1 billion yuan, or $300 million converted in USD after a filing was done. Taipei-based Pegatron is the company that assembles Apple iPhones, one in Shanghai and the other in Kunshan.
The deal is believed to provide an edge versus Foxconn, a central China-based manufacturing partner that assembles approximately 70% of iPhones. Luxshare is enjoying a rise in popularity for Apple as it’s assigned a number of products which include the Apple Watch and iPhone, as well as the Apple Vision Pro. Wang Laichun, Luxshare chair claims that they produce around four iPhone 15 models. Apple has been simultaneously strengthening partnerships in China and moving production to other parts.