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China tech

Taiwan iPhone casing maker sells plants to Chinese rival for $1.4bn

Glass-back supplier Lens Technology moves deeper into Apple supply chain

A customer reboxes an iPhone 11 Pro Max at an Apple Store in Beijing.   © Reuters

TAIPEI -- Taiwan's Catcher Technology, a key supplier of metal iPhone casings, has agreed to sell two factories to a Chinese rival in a $1.42 billion deal that will deepen China-based suppliers' involvement in the Apple supply chain.

The deal will enable Hunan-based Lens Technology, a long time provider of iPhone cover glass and glass backs, to produce high-quality metal casing as well as gain access to some iPhone assembly know-how. This in turn is expected to boost Lens's competitiveness against domestic rival Luxshare-ICT, which also aims to break into the metal casing business. Both companies are attempting to carve out a bigger slice of the world's most complex consumer electronics supply chain.

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