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.
