TF International Securities analyst Ming-Chi Kuo has been on a roll of late with a series tweets covering a variety of topics (01, 02 and 03) and today Kuo's research points to a subsidiary of the Hon Hai Group known as FIT, is likely to replace Goertek as the new AirPods assembler and benefit significantly from it.

The next-generation AirPods models are expected to be shipped in large quantities in 2H24 or 1H25, including the low-priced AirPods (Apple’s target price is $99) and the new AirPods Max, assembled by Luxshare and Hongteng.

AirPods assembly and Hon Hai's electric vehicle business/MIH alliance are expected to be two strong growth drivers for Hon Hai in the next few years.