Foxconn worries about Luxshare
 

How a tiny company is a serious threat to dominance

Foxconn, has set up a task force to fend off the growing clout of Chinese electronics manufacturer Luxshare, which it believes poses a serious threat to its dominance.

Foxconn's founder Terry Gou wants to target Dongguan-based Luxshare which is poised to become the first mainland China-headquartered firm to assemble iPhones.

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 five percent of Foxconn’s revenue - is supported by any Chinese government entity.

The China/ US trade war has forced 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.

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