BEIJING, December 21 (TMTPOST) — Luxshare Precision is building a 285,000-square-meter manufacturing park in Kunshan China with an investment of 11 billion yuan (US$1.73 billion), according to a news report from Nikkei.

The manufacturing park is as large as 40 football fields and will start assembling iPhones as soon as next year. This means that Luxshare Precision will challenge the decade-long dominance of Foxconn Technology and Pegatron on iPhone assembly.

The construction of the manufacturing park is expected to complete its first phase in mid-2022.

Luxshare Precision aims to increase its share of iPhone assembly, from around 6.5 million units to between 12 million and 15 million units by as early as next year, Nikkei reported, quoting sources familiar with the matter.

Luxshare Precision has invested 11 billion yuan in the manufacturing plant, which the company expects to generate sales of more than 100 billion yuan, according to government documents and announcements. There will be 39 production lines at the manufacturing plant, sources said.

In addition, Luxshare Precision has also rented a nearby facility that was owned by Compal Electronics, a Taiwan-based company that assembled iPad for Apple.

It was reported previously that Luxshare Precision will manufacture 3% of Apple’s iPhone 13 series, including iPhone 13 Pro.

Luxshare Precision acquired some of Wistron’s OEM business at US$772 million last year, which laid the pave for Luxshare Precision to tap into iPhone’s supply chain.

Luxshare Precision is a designer and manufacture of cable assembly and connector system solutions for consumers, automotive, cloud and enterprise applications. The Chinese company was founded in 2004 and went public on the SME board of the Shenzhen Stock Exchange in 2010. The company’s product portfolio includes cables, connectors, motors, wireless charges, FPCs, antennas, and acoustic and electronic modules.

The company’s share rose by 7.7% to 49.02 yuan by midday Wednesday in repsonse to the news of another iPhone assembly plant in China.