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China tech

China's Luxshare deepens Apple ties in $930m supply chain deal

Seller Pegatron set to shift resources with investments in India and Vietnam

A Luxshare plant in Guangdong, China. The Chinese company is now buying into Pegatron's casings business. (Photo by Takashi Kawakami) 

TAIPEI -- Apple supplier Luxshare Precision Industry is making a 6 billion yuan ($926 million) investment in an iPhone supply business owned by its rival Pegatron -- a major win that will help the fast-growing Chinese group become a more important production partner for the U.S. tech giant.

Luxshare, already a key AirPods and Apple Watch assembler, said in a stock exchange filing on Thursday that it is taking a stake in Pegatron's metal casing manufacturing unit, Casetek Holdings. Casetek makes metal casings and frames, a crucial high-end component in making iPhones.

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