News that Apple will cut manufacturing orders caused its major Chinese supplier Luxshare Precision's stock price to fall on Wednesday. However, Luxshare clarified the situation in its latest announcement on Thursday morning.
GNDC, Apple's largest foundry in Shanghai, suspended recruitment of new employees in October, resulting in many factories and production lines standing idle. Luxshare Precision, an Apple supplier in Shenzhen, was reported to be in negotiations regarding the takeover of certain factories.
Apple supplier GoerTek lost an order to produce the AirPods Pro 2 last week. Many analysts believed that the order would be transferred to Luxshare Precision. On November 13, the company launched a 2022 stock option incentive plan to boost its share price.
Luxshare Precision, a consumer electronics manufacturer, announced on September 13 that the United States International Trade Commission's investigation into the company has been closed without any material impact on the company's production and operations.
Apple is planning to reduce production orders for its AirPods earphones by more than 10 million units for 2022, as the company predicts lukewarm demand and is seeking to reduce idle inventory.
Apple suppliers Foxconn and Luxshare Precision are among possible candidates to produce the much rumored Apple Car.
Vehicle component maker Luxshare Precision announced on February 11 that it has signed a strategic cooperation framework agreement with Chery Group.
Despite the presence of highly successful women in the industry, we find the need to specify that a founder is “female” as if it were an exception.