AAPL - Apple's Chinese Partner Luxshare Set to Transform iPhone Production Landscape with Major Acquisition | Benzinga
Apple Inc (NASDAQ: AAPL) Chinese partner, Luxshare Precision Industry Co, is poised to take over an iPhone assembly site from Taiwanese competitor Pegatron Corp.
This move is part of Apple's strategy to strengthen ties with China-based suppliers and enhance relations with Beijing.
Luxshare is acquiring a 62.5% stake in Pegatron's Kunshan unit in eastern China for approximately 2.1 billion yuan ($300 million), Bloomberg cites a recent exchange filing.
This acquisition will likely position Luxshare more competitively against Taiwan's Hon Hai Precision ...