TAIPEI -- China's Luxshare is poised to become the world's second-largest iPhone assembler after it takes a majority stake in a Taiwanese peer's plant in the Chinese city of Kunshan.
Taiwan-based Pegatron, a longtime iPhone assembler, announced on Thursday that Luxshare will invest 2.1 billion yuan ($296 million) into the Kunshan plant as a capital expansion. As a result, Pegatron's stake in the facility will drop from 100% to 37.5% and it will lose control of it, the company said in a filing with the stock exchange.
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