China-based Apple supplier Luxshare Precision recently established a chip manufacturing company in Kunshan City, Jiangsu Province in eastern China, with a registered capital of 300 million yuan ($46.4 million), according to information from data provider Qichacha.
The company, which is wholly owned by Luxshare, operates in the areas of display device manufacturing, industrial robotics manufacturing, research and development of intelligent robots and integrated circuit chip and product manufacturing.
Luxshare was founded on May 24, 2004 and listed on the Shenzhen Stock Exchange on September 15, 2010.
In 2011, Luxshare successfully joined Apple's supply chain, providing connection cables, internal iPad cables, MacBook power cables, Apple Watch wireless charging bands, MacBook Type-C and iPhone adapters.
With the addition of Apple's orders, Luxshare's market value increased more than ten times from 2010-2016.
The launch of AirPods unexpectedly changed the industry landscape, and Luxshare keenly smelled a huge business opportunity in the tiny AirPods.
In July 2017, Luxshare was favored by Apple to take 60 -70 percent of AirPods' OEM share with a near 100 percent yield rate.
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