Luxshare Acquires Wistron iPhone Assembly Plant in China

Luxshare Acquires Wistron iPhone Assembly Plant in China

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Luxshare has agreed to purchase two Chinese subsidiaries of Wistron for 3.3. billion yuan ($471.5 million), reports Nikkei. This will give the company control over Wistron's key iPhone assembly plant in Kushan.

Wistron announced it was selling the subsidiaries in a filing with the Taiwan Stock Exchange on Friday, but did not specify what type of facilities were involved. Multiple sources confirmed to Nikkei that the purchase is of the company's iPhone assembly plant in Kunshan. The deal is scheduled to be completed before the end of this year, pending authorities' approval, according to the filing.

"The decision [to sell the facility] is with Apple's consent and it's part of Apple's plan," a source with direct knowledge of the deal said. "Later Luxshaure will start to do iPhone assembly in China, while Wistron will focus on iPhone manufacturing in India."

Apple has purportedly asked Wistron to share some of its iPhone production knowledge with Luxshare.

More details in the full report linked below...

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Luxshare Acquires Wistron iPhone Assembly Plant in China

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