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Luxshare to Invest $330M More in Vietnam, Diversifying from China to Reach $504M
•Original version
Luxshare Doubles Investment to $504M in Vietnam for AirPods Production, Diversifying from China
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Chinese consumers are spending less, impacting Western brands like Apple and Estee Lauder. Apple supplier Luxshare is increasing its investment in Vietnam by $330 million, bringing the total to $504 million, as manufacturers diversify away from China. Vietnamese authorities have allowed Luxshare to expand its production facilities in Bac Giang province.