Apple Partner Luxshare to Control Key China iPhone Plant
- Pegatron to sell majority stake of Kunshan campus to Luxshare
- Apple’s fostering Chinese suppliers to boost ties with Beijing
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Apple Inc.’s key Chinese partner Luxshare Precision Industry Co. is set to gain control of an iPhone assembly site run by a Taiwanese rival, as the US tech firm fosters ties with China-based suppliers to improve relations with Beijing.
Luxshare is set to buy a 62.5% stake in Pegatron Corp.’s Kunshan unit in eastern China for about 2.1 billion yuan ($300 million), according to an exchange filing by the latter on Thursday. Taipei-based Pegatron currently assembles iPhones at its Kunshan campus and another site in Shanghai.