Luxshare says client cooperation normal after Apple production cut report

January 5, 2023

 – China’s Luxshare Precision Industry Co. Ltd. said on Thursday its cooperation with current clients was normal, in response to a media report that iPhone maker Apple Inc. had asked suppliers to cut production.

The electronics manufacturer said it wanted to clarify a recent report from a Taiwanese media outlet which said that Luxshare had suffered the biggest impact from the Apple request.

“There are no special changes or impact to the relevant business of the company mentioned in the report,” Luxshare said in its statement.

“Currently the company’s cooperation with existing customers is progressing normally and the business is moving forward in an orderly manner according to the work plan.”

Luxshare makes connector cables for the iPhone and Macbook to manufacturing AirPods and also owns factories capable of making iPhones.

report by Nikkei Asia on Monday citing unnamed suppliers said Apple has told suppliers to manufacture fewer components for its ear buds, watches and laptops as a sluggish global economy and high inflation may be hurting demand for Apple devices. Read full story

Another supplier, Suzhou Dongshan Precision Manufacturing 002384.SZ, which makes printed circuit boards for Apple, said on Thursday in response to a query about the same media reports on its investor Q&A platform that the orders of its core customers were stable. It did not name Apple.

A separate report by the Financial Times on Thursday said Apple is set to sign an order with Luxshare to produce premium iPhone models. Foxconn declined to comment. Apple and Luxshare did not immediately respond to requests for comment. Read full storyReuters

Disclaimer: Globalincomeexperts.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company. Copyright © 2023 StartYourInvesting.com