Apple supplier Luxshare is taking over an iPhone assembly factory from Taiwanese rival Pegatron, as the Chinese contract manufacturer deepens its relationship with the US technology giant.
Luxshare will pay about $300mn to acquire a 62.5 per cent stake in a facility in Kunshan, a city of 1.6mn people north-west of Shanghai, according to a Pegatron filing on the Taipei Exchange. In Asia morning trading on Friday, Luxshare shares rose 4 per cent in Shenzhen while Pegatron’s shares dropped 4 per cent in Taipei.
The deal is the latest example of how ties between Apple and China have in some areas strengthened despite growing geopolitical tension between Washington and Beijing.
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