Grace Wang

One name used to dominate the conversation about Apple’s suppliers: Foxconn. Not anymore. Luxshare—the Shenzhen-based contract manufacturer that Grace Wang, a former Foxconn worker, cofounded in 2004—is now encroaching on Foxconn’s turf. It’s a key producer of AirPods, Apple Watches, and the iPhone. Last year, Luxshare reportedly generated 70% of its $32 billion in revenue from Apple. Luxshare will manufacture Apple’s forthcoming Vision Pro headset, and is aiming to prepare for whatever comes next. Wang stresses innovation; Luxshare has invested roughly $3 billion in R&D initiatives over the past three years.