Foxconn rival Luxshare acquires Wistron’s iPhone plant

AirPods supplier Luxshare has acquired a factory from iPhone supplier Wistron for $471.5 million and would start making iPhones in Kushan, Jiangsu province in China, the media reported.

The acquisition by Luxshare as its first iPhone assembly plant will pave the way for the company to move up the Apple supply chain and challenge Taiwanese rival Foxconn, which has long dominated iPhone production, reports Nikkei Asian Review.

The deal will be completed by the end of this year, pending approval from the authorities.