Apple Supplier Luxshare to Control Taiwan Rival’s iPhone Site

(Bloomberg) — Apple Inc.’s key Chinese partner Luxshare Precision Industry Co. Ltd. is set to gain control of an iPhone assembly site run by a Taiwanese rival, as the American tech firm fosters ties with China-based suppliers to improve relations with Beijing.

Luxshare is to buy a 62.5% stake in Pegatron Corp.’s Kunshan unit in eastern China for about 2.1 billion yuan ($300 million), according to an exchange filing by the latter on Thursday. Taipei-based Pegatron currently assembles iPhones at its Kunshan campus and another site in Shanghai.