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Apple supplier Luxshare to invest $330 million more in northern Vietnam
Economic Times
·
1y ago
Medial
Apple supplier Luxshare plans to invest an additional $330 million in northern Vietnam. This investment aims to expand Luxshare's production facilities and meet the growing demand for electronic devices. The move showcases Luxshare's commitment to enhancing its manufacturing capabilities and strengthening its position in the global technology supply chain.
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Apple’s manufacturer Luxshare moves investment to Vietnam instead of India
Livemint
·
1y ago
Medial
Apple's major Chinese component manufacturer, Luxshare, has reportedly decided to invest in Vietnam instead of India due to ongoing political tensions between the two countries. Luxshare, a key supplier for Apple's AirPods and potentially iPhones, will shift its $330 million investment to Vietnam's Bac Giang province. This decision could result in a loss for India, which had hoped to incorporate Indian companies like the Tatas into Apple's supply chain. The move by Luxshare reflects Apple's increasing intent to diversify its manufacturing beyond China.
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Apple's Chinese supplier Luxshare's production of some iPhone 15s doubled in a year
Economic Times
·
1y ago
Medial
Chinese supplier Luxshare Precision Industry, known for producing Apple products, is expanding its business by producing three models of the iPhone 15 series this year. Luxshare's chairwoman, Wang Laichun, revealed that the company has doubled its business in a year and is also preparing for the production of the Apple Vision Pro wearable headset, expected to be available early next year. Luxshare has been increasing its production capacity to meet Apple's requirements and has seen significant growth in recent years as an Apple supplier.
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Apple supplier Luxshare weighs manufacturing in US to tackle tariffs
Economic Times
·
4m ago
Medial
Apple supplier Luxshare considers expanding manufacturing outside China, including the U.S., to tackle U.S. tariffs. Chairwoman Wang Laichun stated the tariffs' impact on profits is minimal, but more overseas investments are considered. They may fulfill U.S. market needs through localized products, contingent on commercial guarantees. Luxshare, with facilities across several countries, speculates greater Southeast Asian investments, but not India yet. Tariffs, she notes, don't typically affect hardware manufacturers' pricing strategies.
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Foxconn subsidiary Shunsin eyes $80 million Vietnam investment for integrated circuits
Economic Times
·
9m ago
Medial
Taiwanese company, Foxconn's subsidiary Shunsin, is looking to invest $80 million in northern Vietnam for the production of integrated circuits. This investment plan by Foxconn will primarily be centered in Bac Giang province and will focus on producing and processing electronic components, specifically integrated circuit boards.
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Aequs gets tryout to join Apple’s vendor team
Economic Times
·
10m ago
Medial
Contract manufacturer Aequs group, based in Karnataka, is in the trial stage of becoming an Apple supplier. If successful, it would be the second Indian company to be included on Apple's supplier list and the sole domestic firm to supply parts for MacBook personal computers and Apple watches. Aequs has begun trial production of MacBook enclosures and mechanical components for the Apple watch, and has sent these parts to Apple's designated supplier in Vietnam for fitment checks. The process to become an Apple supplier is rigorous, but electronics manufacturing in India offers a compelling opportunity for companies to enter the sector.
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Nexperia parent Wingtech to sell electronics arm
Economic Times
·
7m ago
Medial
Wingtech, owner of European chip maker Nexperia, plans to sell half its business to focus on chipmaking, affected by geopolitical changes and being added to the US entity list. The sale involves its electronics integration operations, including smartphone and appliance manufacturing. The buyer, Luxshare Ltd., is a Hong Kong-based company linked to an Apple supplier. Post-sale, Wingtech aims to become a leading global semiconductor company. No transaction price was disclosed.
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Samsung invests $1.8 billion more in Vietnam for OLED manufacturing plant
Economic Times
·
11m ago
Medial
Samsung Display Co, a South Korean electronic manufacturer, plans to invest $1.8 billion in a new factory in northern Vietnam. The facility will produce OLED displays for automobiles and technology equipment. Located in Yen Phong industrial park, the factory will be situated close to an existing Samsung electronics plant. This investment will raise Samsung's total investment in Bac Ninh to $8.3 billion. Vietnam has become a popular production hub for electronics companies, and Samsung has already established multiple manufacturing plants and invested $22.4 billion in the country.
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Apple's Bold Move Doubling iPhone Production in India to Embrace a Growing Manufacturing Hub
Business Bytes
·
1y ago
Medial
Apple plans to double its iPhone production in India by 2024, according to analyst Ming-Chi Kuo. India has been actively attracting tech manufacturing investments, offering incentives and reducing barriers. Foxconn, a key manufacturing partner, holds a significant share of iPhone production capacity in India, allowing for diversification and reduced dependency on China. Luxshare, a supplier initially focused on iPhone cables, is expanding its iPhone production in India. Apple's move aligns with India's "Make in India" initiative and demonstrates its commitment to tapping into the Indian market's potential and leveraging India's growing manufacturing reputation.
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Taiwan's Foxconn says global manufacturing footprint to shield it from Trump's tariffs
Economic Times
·
9m ago
Medial
Taiwan's Foxconn, the world's largest contract electronics maker and a key supplier to Apple, believes it will be less impacted by new tariffs imposed by US President-elect Donald Trump compared to its competitors. Foxconn's global manufacturing footprint allows it to shift production locations, minimizing the impact of tariffs. While its facilities in China may face challenges, the company has been investing in other countries such as the United States, Mexico, and Vietnam to diversify its supply chain. Foxconn plans to reveal more details about its US expansion plans once Trump's policies become clearer.
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Apple expects $900 million tariff hit, Amazon sees no impact yet
Economic Times
·
4m ago
Medial
Apple and Amazon exceeded earnings expectations in the face of US tariff impacts, with Apple foreseeing a $900 million cost increase and relying more on India and Vietnam for product sourcing. The company’s litigations may affect future revenue. Apple plans significant US investments. Amazon's CEO assured stable prices, preparing for potential tariff challenges with 2 million merchants. A tax loophole for foreign sellers ended, affecting imports from China amid changes in US tariffs.
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