Luxshare

{{Short description|Chinese electronic components manufacturer}}

{{Infobox company

| name = Luxshare Precision Industry Co. Ltd.

| logo = Luxshare.png

| image =

| image_size =

| image_alt =

| image_caption =

| module = {{Infobox Chinese/Chinese

|child=yes

|hide=no

|header=none

|s=立讯精密工业股份有限公司

}}

| native_name_lang = zh

| former_name =

| type = Public

| traded_as = {{szse|002475}}
CSI A50

| industry = Electronic connector manufacturing

| founded = {{start date and age|2004}}

| founder = Wang Laichun

| hq_location = Bao'an District

| hq_location_city = Shenzhen, Guangdong

| hq_location_country = China

| area_served =

| key_people =

| products = Electronic components

| brands =

| services =

| revenue = US$ 32,759 million (2023){{cite web |title=Luxshare Precision Industry|url=https://fortune.com/company/luxshare-precision-industry/ |website=Fortune Global 500 |publisher=Fortune |access-date=2024-08-24}}

| operating_income =

| net_income = US$ 1,547 million (2023)

| assets = US$ 22,823 million (2023)

| num_employees = 232,585 (2023)

| owner =

| parent =

| website = {{Official URL}}

}}

Luxshare Precision Industry Co. Ltd., also known as Luxshare-ICT, is a Chinese electronic components manufacturer.

Luxshare Precision is headquartered in Bao'an District, Shenzhen, Guangdong Province, and is listed on the Shenzhen Stock Exchange.{{Cite web|title=立讯精密工业股份有限公司2021年年度报告|url=http://file.finance.sina.com.cn/211.154.219.97:9494/MRGG/CNSESZ_STOCK/2022/2022-4/2022-04-28/8124537.PDF|access-date=2023-01-05|archive-date=2023-01-18|archive-url=https://web.archive.org/web/20230118210235/http://file.finance.sina.com.cn/211.154.219.97:9494/MRGG/CNSESZ_STOCK/2022/2022-4/2022-04-28/8124537.PDF|url-status=live}}

History

Wang Laichun is the company's chairwoman, and co-founder.{{cite web|url=https://en.luxshare-ict.com/about/intr.html|title=About Us_Luxshare-ICT|access-date=2021-09-16}} Wang founded Luxshare after ten years at Foxconn. Her brother, Wang Laishen, is Luxshare's vice chairman and is also ex-Foxconn.{{cite news|last1=Sanghani|first1=Radhika|title=World's 5 richest self-made women - how did they do it?|url=https://www.telegraph.co.uk/women/womens-business/10675185/5-richest-self-made-women-how-did-they-do-it.html|accessdate=12 November 2014|work=The Daily Telegraph|date=4 March 2014}} Wang Laichun's leadership style is seen as similar to Foxconn's Terry Gou.{{cite web |last1=LI |first1=LAULY |last2=TING-FANG |first2=CHENG |title=Luxshare grows into China's iPhone champion with help from Apple |url=https://asia.nikkei.com/Business/Business-Spotlight/Luxshare-grows-into-China-s-iPhone-champion-with-help-from-Apple |website=asia.nikkei.com |publisher=Nikkei}}

Luxshare was founded in 2004 in Dongguan, China. The company designs and manufacturers computer cables; it is also a key assembler of AirPods for Apple Inc.{{Cite web|url=https://www.asiafundmanagers.com/int/apple-suppliers/|title=Despite trade war: Apple has more Chinese suppliers than ever|last=Felicitas|first=Shintya|date=2019-04-05|website=AsiaFundManagers.com|language=en-INT|access-date=2020-01-28}} The company was listed publicly on the SME board of the Shenzhen Stock Exchange in 2010.{{cite web|url=https://en.luxshare-ict.com/about/intr.html|title=About Us_Luxshare-ICT|access-date=2021-09-16}}

In 2020, Luxshare became an iPhone assembler after acquiring two iPhone assembly plants from Wistron.{{cite news |title=Apple supplier Luxshare plans share issue to fund new production lines |url=https://www.reuters.com/markets/europe/apple-supplier-luxshare-plans-share-issue-fund-new-production-lines-2022-02-21/ |website=reuters.com |date=21 February 2022 |agency=Reuters |access-date=15 July 2022}}

In 2022, Luxshare was accused by Taiwanese prosecutors of stealing trade secrets from competitor Catcher Technology and of hiring much of their China based research and development team, which is alleged to have allowed Luxshare to rapidly enter Apple's supply chain.{{cite web |title=Taiwan accuses Chinese Apple supplier of stealing secrets, charges 14 |url=https://www.cnbc.com/2022/07/15/taiwan-accuses-chinese-apple-supplier-of-stealing-secrets-charges-14.html |website=cnbc.com |date=15 July 2022 |publisher=CNBC |access-date=15 July 2022}}

During the 2022 COVID-19 protests in China, Luxshare was reported by The Wall Street Journal to gain an additional foothold in Apple's supply chain following protests at a Foxconn factory in the Zhengzhou Airport Economy Zone.{{Cite news |last1=Yang |first1=Jie |last2=Tilley |first2=Aaron |date=3 December 2022 |title=Apple Makes Plans to Move Production Out of China |work=The Wall Street Journal |url=https://www.wsj.com/articles/apple-china-factory-protests-foxconn-manufacturing-production-supply-chain-11670023099 |access-date=4 December 2022}}

As of July 2023, Luxshare was reportedly the initial and only contract manufacturer for Apple's Vision Pro spatial computer.{{cite web | last=Times | first=Financial | title=Apple forced to make major cuts to Vision Pro headset production plans | website=Ars Technica | date=2023-07-03 | url=https://arstechnica.com/gadgets/2023/07/apple-forced-to-make-major-cuts-to-vision-pro-headset-production-plans/ | access-date=2023-07-03}}

See also

References

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