"Maps show 500 suspected 're-education' camps and prisons where China is locking up and torturing its Muslim minority"
https://www.businessinsider.com/china-uighur-prison-camp-suspected-locations-maps-2019-11
Posted on 12/28/2023 4:35:24 AM PST by FarCenter
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.
This will make Luxshare the second-largest iPhone assembler by capacity after Taiwan's Foxconn. The move will also deepen Apple's ties with Chinese suppliers, despite talk in recent years of a decoupling between the world's two largest economies.
"In response to the dynamic market and industrial environment, and to strengthen the regional manufacturing efficiency, Pegatron expects to reallocate resources more effectively by having a joint venture with the strategic investor through the capital injection, resulting in balanced regional deployment and stronger competitiveness," Pegatron told Nikkei Asia in a statement.
Pegatron has four manufacturing hubs in China: in Chongqing, Suzhou, Shanghai and Kunshan. It makes iPhones in Shanghai and Kunshan, and also started to make them in India, where Apple is stepping up its efforts on both the manufacturing and sales fronts.
The strategic partnership with Luxshare will enable Pegatron to maintain its operation in China while also freeing up resources to expand in other markets amid the ongoing geopolitical uncertainties, two sources with direct knowledge of the matter said.
"Pegatron is not withdrawing investments from China. But considering the capital needed for the company's global manufacturing plans, it will not invest any more money into the Kunshan facility," one of the sources said. "Pegatron will keep the Shanghai plant, India plant and continue to own the research and development teams [for iPhones]."
"Maps show 500 suspected 're-education' camps and prisons where China is locking up and torturing its Muslim minority"
https://www.businessinsider.com/china-uighur-prison-camp-suspected-locations-maps-2019-11
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