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TAIPEI\/SHANGHAI: Apple's top iPhone assembler, Taiwan-based Foxconn<\/a>, has set up a task force to fend off the growing clout of Chinese electronics manufacturer Luxshare<\/a>, which it believes poses a serious threat to its dominance, three sources with knowledge of the matter said.
The project was initiated by Foxconn<\/a>'s founder Terry Gou, according to one of the sources, to target Dongguan-based Luxshare<\/a>, which is little-known internationally but is poised to become the first mainland China-headquartered firm to assemble iPhones - a turf until now dominated by Taiwanese manufacturers.
The task force, which the sources say was created last year, has been looking into Luxshare's technology, expansion plan, hiring strategy and whether the company - which currently makes only 5% of Foxconn's revenue - is supported by any Chinese government entity.
While the U.S.-China trade war and the coronavirus crisis have intensified pressure on global supply chains, an increasingly acrimonious tech feud between the economic giants has also prompted Beijing to strengthen efforts on creating world-leading local tech firms - and Luxshare's growth trajectory fits into that mould.
\"Luxshare is set to rise ... it's just a matter of how fast it could be,\" one of the sources said.
\"It makes sense for China to build up its own supply chain and Luxshare is in line with that state policy.\"
RED SUPPLY CHAIN
<\/strong>
That state policy, analysts say, is gaining traction with the rise of China's \"red supply chain\", where Chinese firms with apparent government support increasingly take on the work of manufacturing products for Apple and other global firms.
\"Facing the rise of the red supply chain, the threat of Taiwan manufacturers being replaced continues to increase,\" Market Intelligence & Consulting Institute, a think tank backed by Taiwan government, wrote in a September report.
Luxshare, whose chairwoman was once a worker at Taiwanese Apple supplier<\/a> Foxlink<\/a>, acquired two smaller factories belonging to Taiwanese iPhone assembler Wistron in China in July. Previously, Luxshare was best known for making Apple's AirPods<\/a>.
One of the sources called it a \"formidable opponent\", and said Foxconn has been conducting extensive research on Luxshare, aiming to \"defeat it completely.\"
The sources, who have direct knowledge of the matter and are familiar with Foxconn's thinking, declined to be named citing the sensitivity of the issue.
Public records reveal that while Luxshare is majority-owned by Grace Wang and her brother Wang Laisheng, its minority shareholders include state-owned Chinese investment company Central Huijin Investment Ltd, which has a 1.38% stake.
Luxshare has also received over 1 billion yuan ($148.80 million) in government subsidies since 2016 to the first half of this year, a Reuters calculation of its financial reports shows. Roughly half of that sum came in 2019 alone.
Foxconn told Reuters in a statement the task force described in this story is \"not grounded in facts\" and there were \"no meetings or any other contact.\"
\"There have also been no other extraordinary actions taken by the management team.\" It did not elaborate.
Luxshare declined to comment. Apple did not respond to a Reuters request for comment.
'BLOOD IN THE WATER' <\/strong>
Luxshare was founded in 2004 by Grace Wang, who told Taiwan's Business Today in July that she was once a worker at Foxlink<\/a>, owned by Gou's brother, T.C. Gou.
Its journey up Apple's value chain has been driven in part by acquiring smaller components makers, starting with the manufacturing of connector cables for the iPhone and Macbook through a 2011 acquisition of its Dongguan neighbour Lanto Electronics, then by making acoustic components for the iPhone, and eventually by manufacturing airpods<\/a>.
The company's revenue has risen in tandem with its advance up Apple's value chain - sales in 2019 hit 62.5 billion yuan, up 75% year-on-year.
That's roughly 5% of Foxconn's revenue, formally called Hon Hai Precision Industry, although investor bets on the company's prospects have lifted its market value to roughly $20 billion above the Taiwan firm's $39 billion market capitalisation.
Luxshare now gets 58% of its revenue from Apple, according to Morningstar Research
The company's July acquisition of Wistron's iPhone plants in Kunshan marks its most significant deal yet, which Fubon Research said could help Luxshare capture up to 30% of iPhone production within the next five years.
Two of the sources familiar with Foxconn said Luxshare had also been actively poaching from Foxconn. In one case, one of the sources said, Luxshare offered 500,000 yuan ($75,009) cash upfront as a relocation subsidy for a senior Foxconn employee to move family from Taiwan to China.
David Collins, a manufacturing consultant based in Taipei and Kunshan, says that Chinese firms see both Foxconn's legacy status, coupled with its move away from China, as prime opportunity to usurp it.
\"Foxconn's share price is down roughly 50% from two years ago. They see blood in the water.\"
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苹果供应商富士康Luxshare刺激了美国中美不和速度供应链转变
苹果的iPhone汇编,台湾富士康,已经成立了一个专责小组,以抵御中国电子制造商Luxshare日益增长的影响力,它认为对其主导地位构成严重威胁,三位知情人士表示。
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台北/上海:苹果的iPhone汇编程序,台湾富士康已经成立了一个专责小组,以抵御中国电子制造商日益增长的影响力Luxshare,它认为对其主导地位构成严重威胁,三位知情人士表示。
这个项目是由富士康的创始人郭台铭(Terry Gou),根据来源之一,针对东莞Luxshare,是国际上鲜为人知但有望成为第一个大陆China-headquartered公司组装iphone——由台湾制造商主导的地盘直到现在。
创建工作组,消息人士称,去年已经调查Luxshare的技术,扩张计划、招聘策略和该公司是否——目前只有5%的富士康的收入,是中国政府支持的任何实体。
而美国中美贸易战争和冠状病毒对全球供应链危机加剧压力,日益激烈的科技经济巨人之间的争执也促使北京加强努力在当地创建世界领先的科技公司——Luxshare的增长轨迹符合模具。
“Luxshare将崛起……它只是一个问题可能是多快,"其中一位消息人士说。
“这对中国有意义构建自己的供应链和Luxshare符合国家政策”。
红色的供应链
国家政策,分析人士说,获得青睐中国的崛起的“红色供应链”,与明显的政府支持,中国企业越来越多地承担的工作为苹果和其他全球性企业制造产品。
”面对红供应链的兴起,台湾制造商的威胁被继续增长,“情报研究所智囊团在台湾政府的支持下,在9月的一份报告中写道。
Luxshare的主席曾经是一个工人在台湾苹果供应商 Foxlink,收购了两家规模较小的工厂属于台湾iPhone在中国7月汇编纬创资通。此前,Luxshare最出名的是苹果的AirPods。
其中一位消息人士称其为“强大的对手”,并说富士康一直Luxshare进行广泛的研究,旨在“彻底击败它。”
的来源,有直接的物质和知识熟悉富士康的思维,为由拒绝透露姓名的敏感性问题。
公共记录显示,虽然Luxshare控股的恩典小王和她的弟弟王Laisheng,其少数股东包括中国国有投资公司中央汇金投资有限公司1.38%的股权。
Luxshare也收到了超过10亿元人民币(合1.488亿美元)的政府补贴自2016年以来,今年上半年,路透计算的财务报告显示。大约一半的金额仅2019年一年了。
富士康在一份声明中告诉路透工作组中描述这个故事是“不以事实为基础”,“没有会议或其他任何接触。”
“还有没有其他特别的行动采取的管理团队”。It did not elaborate.
Luxshare拒绝置评。苹果没有回应路透社记者的置评请求。
血液在水中的
Luxshare成立于2004年,由王,他对台湾的业务今天7月说,她曾经是一个工人Foxlink郭台铭旗下的兄弟,郭台强。
其旅行推动苹果的价值链的一部分通过收购更小的组件制造商,从连接器电缆的制造iPhone和Macbook通过2011年收购东莞邻国Lanto电子,然后通过声组件为iPhone,并最终由制造业airpods。
公司的收入增长和推动苹果的价值链——销售在2019年达到625亿元,同比增长75%。
富士康的收入的大约5%,正式被称为鸿海精密工业,尽管投资者押注公司的前景将其市场价值约200亿美元以上台湾公司的390亿美元市值。
Luxshare现在58%的收入来自苹果,据晨星公司的研究
公司的收购7月在昆山纬创资通的iPhone植物是其最重要的协议,富邦研究表示可以帮助Luxshare捕获30%的iPhone生产在未来五年内。
两位知情人士称,富士康Luxshare也积极从富士康偷猎。在一个案例中,一名消息人士说,Luxshare提供人民币500000元(合75009美元)现金预付作为高级富士康员工的搬迁补贴家庭从台湾到中国移动。
制造业顾问大卫•柯林斯在台北和昆山,说中国公司看到富士康的遗产地位,加上它离开中国'篡夺它的机会。
“富士康的股价从两年前下跌了大约50%。他们看到血在水里。”
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