Luxshare becomes strategic partner in Qorvo’s supply chain

  • Qorvo is selling two of its China-based facilities to Luxshare Precision Industry
  • Luxshare will become one of Qorvo’s supply chain partners
  • The deal is expected to be completed in the first half of 2024
  • Luxshare will assemble and test products for Qorvo under a long-term supply agreement
  • Qorvo will maintain its sales, engineering, and customer support employees in China

Qorvo has announced the sale of its Beijing and Dezhou facilities in China to Luxshare Precision Industry. The deal, expected to be completed in the first half of 2024, will make Luxshare one of Qorvo’s supply chain partners. Under a long-term supply agreement, Luxshare will assemble and test products for Qorvo. Qorvo will retain its sales, engineering, and customer support employees in China. The company’s CEO, Bob Bruggeworth, expressed confidence in Luxshare’s manufacturing capabilities and highlighted the partnership’s ability to serve customers worldwide.

Public Companies: Qorvo (Qorvo), Luxshare Precision Industry (Luxshare)
Private Companies:
Key People: Bob Bruggeworth (Chief Executive)

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Factuality Level: 8
Justification: The article provides clear and factual information about Qorvo selling its China-based assembly and test facilities to Luxshare Precision Industry. It includes details about the agreement, the expected completion date, and the impact on Qorvo’s operations. The statements from Qorvo’s Chief Executive are presented as quotes, indicating they are his personal perspective rather than universally accepted truth. Overall, the article is well-researched and accurately reports the news.

Noise Level: 7
Justification: The article provides information about Qorvo selling its China-based facilities to Luxshare Precision Industry. It mentions that Luxshare will become one of Qorvo’s supply chain partners and will assemble and test products for Qorvo under a new agreement. The article also mentions that Luxshare will acquire the operations and assets of the facilities, while Qorvo will maintain its sales, engineering, and customer support employees in China. The article includes a quote from Qorvo’s CEO expressing confidence in Luxshare as a strategic partner. However, the article lacks in-depth analysis, scientific rigor, and evidence to support its claims. It also does not provide actionable insights or explore the consequences of the decision on those who bear the risks. Overall, the article contains relevant information but lacks depth and critical analysis.

Financial Relevance: Yes
Financial Markets Impacted: The sale of Qorvo’s China-based assembly and test facilities to Luxshare Precision Industry may impact the financial markets and companies involved in the supply chain of Qorvo’s products.

Presence of Extreme Event: No
Nature of Extreme Event: No
Impact Rating of the Extreme Event: No
Justification: The article discusses a business transaction between Qorvo and Luxshare Precision Industry, which may have financial implications for both companies and their supply chain partners. However, there is no mention of any extreme event or its impact.

Reported publicly: www.marketwatch.com