Luxshare Precision
More actions
| Luxshare Precision Industry Co., Ltd. | |
|---|---|
| Information | |
| Industry | Precision manufacturing (consumer electronics, communications, automotive) |
| Founded | 24 May 2004 |
| Founder | Wang Laichun, Wang Laisheng |
| Headquarters | Dongguan, Guangdong, China |
| Notable Personnel | Wang Laichun (chairwoman and general manager), Wang Laisheng (vice chairman) |
| Products | Connectors and cable assemblies, TWS headphones, smart wearables, VR headsets, optical modules, automotive wiring harnesses |
| Website | https://www.luxshare-ict.com |
Luxshare Precision (Luxshare Precision Industry Co., Ltd., also known as Luxshare-ICT) is a Chinese contract manufacturer of electronic components, modules and finished devices. The company was established in Shenzhen on 24 May 2004 and has been listed on the Shenzhen Stock Exchange since September 2010 and on the Hong Kong Stock Exchange since July 2026.[1] Its 2026 financial releases describe it as "a global provider of precision intelligent manufacturing solutions".[2] Forbes lists its headquarters as Dongguan, China.[3]
Luxshare is a major supplier to Apple.[4] In the XR industry it is best known as the assembler of the first-generation Apple Vision Pro, a role reported by the South China Morning Post in June 2023 and by the Financial Times in July 2023, although Apple did not confirm it.[5][6] The company lists VR headsets among its consumer electronics products.[1]
History
Luxshare was co-founded by Wang Laichun, also known as Grace Wang, and her brother Wang Laisheng. According to Forbes, Wang Laichun had worked for about a decade at Hon Hai Precision Industry (Foxconn) before leaving in 1997, and she set up Luxshare with her brother in 2004. She is the company's co-founder, chairwoman and general manager, and Wang Laisheng is vice chairman.[7] A 2023 Financial Times profile, as summarized by AppleInsider, said Luxshare began producing simple connectors for Apple in 2011 and moved on to progressively more complex devices over the following decade.[6] Luxshare listed its A shares on the Shenzhen Stock Exchange on 15 September 2010 under stock code 002475.[1]
In July 2020 the Taiwanese manufacturer Wistron agreed to sell its subsidiaries Wistron InfoComm Manufacturing (Kunshan) and Wistron Investment (Jiangsu), along with related businesses, to Luxshare for 3.3 billion yuan. The Kunshan plant focused on smartphone assembly, and the Taipei Times cited earlier DigiTimes reporting that Luxshare wanted to acquire a Wistron plant used to make iPhones in China.[8] Law.asia describes Luxshare as the first mainland Chinese company to assemble iPhones, starting in 2020.[9]
The company has also expanded into automotive parts. On 10 July 2025 it completed the purchase of a 50.1 percent stake in the German wiring-harness maker Leoni AG, under an agreement signed in September 2024.[10] On 29 April 2026 it bought a further 24.8 percent from Stefan Pierer, raising its holding to 74.9 percent.[11]
Luxshare's H shares began trading on the Hong Kong Stock Exchange on 9 July 2026 under stock code 02475.[1] The offering of about 383 million H shares at HK$63.28 each raised about HK$24.27 billion (US$3.09 billion), the largest Hong Kong IPO of 2026 up to that date.[9]
Business
Luxshare's company profile lists products in three areas, shown below; the same page's timeline also describes a medical devices business as part of four business lines.[1]
| Segment | Products listed by Luxshare |
|---|---|
| Enterprise communications | High-speed interconnect, optical modules, heat dissipation modules, base station antennas and filters |
| Consumer electronics | TWS wireless headphones, smart wear, wireless charging modules, 5G routers, VR headsets, smart speakers |
| Automobile systems | Wiring harnesses, connectors, intelligent cabin, intelligent driving, central gateway |
For the first half of 2026, Luxshare reported revenue of RMB 174.50 billion, up 40.2 percent from a year earlier, and net profit attributable to shareholders of RMB 7.84 billion, up 18.0 percent. Consumer electronics brought in RMB 122.48 billion, automotive electronics RMB 32.39 billion, and communications and data center products RMB 16.61 billion. The company named AI PCs, smart wearables, AI glasses and intelligent acoustic products as priority areas within consumer electronics.[2] The company says it has more than 105 production bases and more than 25 research and development centers.[1]
XR work
Apple Vision Pro
In June 2023, days after Apple announced the Vision Pro, the South China Morning Post reported that Luxshare was the headset's assembler, citing a bill of materials analysis by the Chinese AR and VR consultancy Wellsenn XR. That analysis named seven mainland Chinese suppliers, including camera module maker Cowell E Holdings and battery supplier Shenzhen Desay Battery Technology. The newspaper said it was the first time Apple had enlisted a mainland Chinese contract manufacturer to build a "first-generation" product.[5] In July 2023 the Financial Times reported that Luxshare was believed to be the sole assembly partner for the headset and that the company had won the work in part by being willing to test "crazy" manufacturing ideas for Apple. Apple had not confirmed reports that Luxshare was the sole manufacturer.[6]
Apple chief executive Tim Cook toured a Luxshare factory in October 2023 and posted photos of the visit on his Weibo account. The South China Morning Post linked the visit to Apple's preparations for Vision Pro assembly.[4]
In October 2024 The Information reported that Luxshare had halved Vision Pro production to about 1,000 units per day and that Apple had told the company manufacturing might have to wind down by November. The same report said suppliers had made enough components for about 600,000 headsets and that Luxshare had assembled between 500,000 and 600,000, leaving about 200,000 in storage. DigiTimes reported that daily output had fallen from 2,000 units to fewer than 1,000.[12][13] Summarizing a January 2026 Financial Times report, MacRumors wrote that Luxshare had apparently halted Vision Pro production at the start of 2025.[14]
The Apple Vision Pro M5, released in October 2025, is assembled in Vietnam, according to Bloomberg. Reports on that change did not name the company doing the assembly there; they described the original M2 model as having been made in China by Luxshare.[15][16]
Other XR products
Luxshare's company profile lists VR headsets in its consumer electronics segment without naming the brands it builds them for.[1] In its first-half 2026 results the company named AI glasses as a priority area within consumer electronics.[2]
See also
References
- ↑ 1.0 1.1 1.2 1.3 1.4 1.5 1.6 "Company Profile". Luxshare-ICT. https://www.luxshare-ict.com/en/about/company-profile.html. Retrieved 2026-09-29.
- ↑ 2.0 2.1 2.2 "Luxshare Precision Reports 40.2% Revenue Growth in First Half 2026; Business Mix Supports Margin Expansion". PR Newswire. Luxshare Precision. 2026-08-27. https://www.prnewswire.com/news-releases/luxshare-precision-reports-40-2-revenue-growth-in-first-half-2026-business-mix-supports-margin-expansion-302861680.html. Retrieved 2026-09-29.
- ↑ "Luxshare Precision Industry". Forbes. https://www.forbes.com/companies/luxshare-precision-industry/. Retrieved 2026-09-29.
- ↑ 4.0 4.1 "Apple CEO Tim Cook visits factory of major Chinese supplier Luxshare amid preparations for the assembly of its Vision Pro headset". South China Morning Post. Yahoo Finance. 2023-10-18. https://finance.yahoo.com/news/apple-ceo-tim-cook-visits-093000485.html. Retrieved 2026-09-29.
- ↑ 5.0 5.1 "Apple taps Chinese contract manufacturer Luxshare, six other mainland suppliers in production of Vision Pro mixed-reality headset". South China Morning Post. Yahoo Finance. 2023-06-14. https://finance.yahoo.com/news/apple-taps-chinese-contract-manufacturer-093000491.html. Retrieved 2026-09-29.
- ↑ "Wang Laichun". Forbes. https://www.forbes.com/profile/wang-laichun/. Retrieved 2026-09-29.
- ↑ Chen Cheng-hui (2020-07-20). "Wistron agrees to sell subsidiaries". Taipei Times. https://www.taipeitimes.com/News/biz/archives/2020/07/20/2003740204. Retrieved 2026-09-29.
- ↑ 9.0 9.1 "Luxshare raises HKD24.27bn in Hong Kong's largest IPO". Law.asia. 2026-07-10. https://law.asia/luxshare-precision-hkex-debut/. Retrieved 2026-09-29.
- ↑ "Luxshare-ICT secures majority ownership of Leoni, after its successful turnaround". Leoni. 2025-07-10. https://www.leoni.com/press/press-releases/completion-leoni-luxshare. Retrieved 2026-09-29.
- ↑ "Luxshare increases shareholding in Leoni AG". Leoni. 2026-04-30. https://www.leoni.com/press/press-releases/luxshare-increases-shareholding-in-leoni-ag. Retrieved 2026-09-29.
- ↑ Malcolm Owen (2024-10-23). "Apple severely cuts Vision Pro production, and may stop it completely very soon". AppleInsider. https://appleinsider.com/articles/24/10/23/apple-severely-cuts-vision-pro-production-and-may-stop-it-completely-very-soon. Retrieved 2026-09-29.
- ↑ Chia-Han Lee (2024-10-25). "Luxshare reportedly to halt Vision Pro production amid surplus component inventory". DigiTimes. https://www.digitimes.com/news/a20241025PD219/apple-production-luxshare-component-inventory.html. Retrieved 2026-09-29.
- ↑ Hartley Charlton (2026-01-02). "Report: Apple Vision Pro Is Still Failing to Catch On". MacRumors. https://www.macrumors.com/2026/01/02/vision-pro-still-failing-to-catch-on/. Retrieved 2026-09-29.
- ↑ Hartley Charlton (2025-10-22). "Apple Vision Pro Now Made in Vietnam". MacRumors. https://www.macrumors.com/2025/10/22/apple-vision-pro-now-made-in-vietnam/. Retrieved 2026-09-29.
- ↑ Marcus Mendes (2025-10-21). "M5 Apple Vision Pro made in Vietnam as supply chain shift continues". 9to5Mac. https://9to5mac.com/2025/10/21/new-m5-powered-apple-vision-pro-made-in-vietnam-as-supply-chain-shift-continues/. Retrieved 2026-09-29.