Get all your news in one place.
100’s of premium titles.
One app.
Start reading
Reuters
Reuters
Business

Taiwan-based Apple supplier Catcher to sell two divisions to China's Lens for $1.4 billion

Taiwan-based Catcher Technology <2474.TW>, a supplier to Apple Inc <AAPL.O>, has agreed to sell two units from its Lyra International division in China to Hunan-based Lens Technology Co <300433.SZ> for $1.43 billion, a company filing showed.

Headquartered in Tainan, Taiwan, Catcher makes metal casings for a range of consumer electronics, including the iPhone.

Smaller iPhone assembler Wistron <3231.TW> last month agreed to sell two of its factories in China to fast-rising Chinese manufacturer Luxshare Precision Industry Co <002475.SZ> for 3.3 billion yuan ($477 million).

Analysts have said Chinese companies are gearing up to get into the much coveted iPhone assembly chain amid a supply chain reshuffle following the China-U.S. trade war.

Taiwanese firms currently dominate the iPhone supply chain, including Foxconn <2317.TW>, the world's largest contract electronics manufacturer, Pegatron <4938.TW> and Wistron.

($1 = 6.9220 Chinese yuan renminbi)

(Reporting by Josh Horwitz in Shanghai and Ben Blanchard in Taipei; Editing by David Goodman and Susan Fenton)

Sign up to read this article
Read news from 100’s of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member? Sign in here
Our Picks
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.