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China tech

Apple's deeper dive into China boosts Luxshare earnings

iPhone assembler known as 'Little Foxconn' posts 30% revenue growth in first half

Apple now has more suppliers from China and Hong Kong than from Taiwan.   © Reuters

TAIPEI -- Luxshare Precision Industry revealed Tuesday record revenues and a big jump in profits for the first half of 2021, becoming the latest Chinese manufacturer to enjoy a boost from its business as a supplier to Apple.

The Guangdong-based company sometimes called "Little Foxconn," which has been deepening its relationship with Apple and is assembling iPhones for the U.S. technology giant for the first time this year, said first-half revenue grew more than 30% from a year ago to 48.14 billion yuan ($7.42 billion). Net profit was up 22% to 3.08 billion yuan.

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