The Chinese are building a massive factory to manufacture Apple’s iPhone 7 and iPhone 7 Plus.
But the US is struggling to compete with cheap Chinese imports, and Apple is expected to benefit from the huge investment.
The US and China’s largest manufacturing firms, the Guangdong Iron and Steel Corporation (GSC) and the Shanghai Metallurgical Group (SMG), have signed a long-term agreement to produce the iPhone 7.
The new iPhone will be manufactured by GSC in China, which makes most of the iPhones and iPad products that the world’s largest smartphone makers rely on.
But that investment in the US manufacturing industry is likely to be temporary.
The company is likely instead to use its new facility to produce components for the iPhone 6 and iPhone 6 Plus, as well as for the next iPhone.
The GSC will have to use the facility to make components for both the iPhone 5s and iPhone 5c.
In addition, it will also need to make other iPhone components for a range of Apple products, including the iPhone X and the new MacBook Pro.
In its first major manufacturing announcement, the new iPhone has the most advanced screen on the market and is designed to be lighter, cheaper and more flexible than the iPhone 4s.
But it will not be a cheap product, according to Apple chief executive Tim Cook.
He said that the company is still looking for its cheapest product, but that the iPhone is a good one.
“We’re still in the early stages of looking at that,” Cook told CNBC in an interview on Monday.
“I think it’s going to be a good product.
We’re looking for it to be the most affordable iPhone.”
The company is also hoping to make more of the new iPhones available to consumers, especially for those who cannot afford them.
Cook said that it is a matter of finding the right partners and suppliers for the products.
Apple is expected pay the equivalent of $15 per smartphone in taxes and import duties on the iPhone’s new overseas profits, Cook said, according the Wall Street Journal.
“It’s a big deal for the company,” he said.
“It means that it has a higher profit margin.
It means that we can produce more of those iPhones.”