Chinese automaker BYD expands into smartphone components with $2.2 billion acquisition
Chinese automaker BYD's electronics unit, BYD Electronic, has agreed to purchase Jabil Inc's mobile electronics manufacturing business in China for $2.2 billion. The deal will allow BYD Electronic to expand its customer base and product portfolio, particularly in smartphone components. BYD is reportedly in talks to acquire Jabil's Green Point metal casing operations in Wuxi, potentially increasing their market share in Apple's casing supply. The financing details of the deal have not been disclosed. This acquisition highlights BYD's diverse business beyond electric vehicles and its role as a supplier to Apple. Jabil Circuit, the seller, will use the deal to enhance its capital framework.
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00:00 It's Benzinga and here's what's on the block.
00:02 Chinese automaker BYD's electronics unit BYD Electronic has agreed to purchase Jabil Inc's
00:07 mobile electronics manufacturing business in China for $2.2 billion.
00:12 The deal will allow BYD Electronic to expand its customer base and product portfolio, particularly
00:17 in smartphone components.
00:18 BYD is also reportedly in talks to acquire Jabil's Greenpoint metal casing operations
00:23 at Wuxi, potentially increasing their market share in Apple's casing supply.
00:27 The financing details of the deal have not been disclosed, but this acquisition highlights
00:31 BYD's diverse business beyond electric vehicles and its role as a supplier to Apple.
00:35 For all things money, visit Benzinga.com.
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