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Apple to sign Luxshare for iPhone production in China

Apple to sign Luxshare for iPhone production in China
$Apple(AAPL.US)$ is set to sign up Chinese contract manufacturer $Luxshare Precision Industry(002475.SZ)$ to produce premium iPhone models, the Financial Times reported on Wednesday, citing sources familiar with the matter.
Luxshare has been producing small numbers of the iPhone 14 Pro Max at its Kunshan plant, to make up for lost production at $Foxconn Concept(BK0576.SH)$ Zhengzhou factory last year.
The Foxconn plant is almost back to full production, with its December shipments reaching about 90% of initial plans, sources told Reuters on Tuesday.
Industry research firm TrendForce said on Saturday that Apple decided to employ Luxshare as one of the assemblers for the upcoming iPhone 15 Pro Max.
TrendForce added that Luxshare's only iPhone assembly plant is located in China and it doesn't plan on setting up an iPhone production line at its Vietnam plant where it assembles Apple accessories.
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