Apple, Samsung and LG have reached a contract for the manufacture of iPhones, as part of the latest round of agreements for products like Apple Watch and the Apple TV.

The contract with Foxconn, which builds the iPhone, is worth $2 billion.

Apple has agreed to supply components and labor for the devices, and Foxconn has agreed in principle to build a production line for them.

The contracts are part of a new round of iPhone contracts that Foxconn was awarded by the US government last week, after a yearlong investigation into the supplier of the iPhone.

Foxconn won the contract to produce components for the Apple Watch, a device that uses wireless sensors to measure body temperature.

It also won the same contract to supply parts and labor to Samsung, which also manufactures the Samsung Galaxy S II.

“We are excited to partner with Foxcbs leading company in providing iPhone components and expertise,” said Michael Lee, the president and CEO of Apple, in a statement.

“The Foxconn contract provides an important opportunity to build upon the global success of Apple Watch to bring more customers to Apple products, and is also a way to accelerate our momentum toward iPhone 5 and 5s products.”

In a statement, Foxconn said it “welcomes” the partnership, which will help “increase the global demand for Apple products” in the smartphone market.

Apple and Samsung are both expected to announce new products for their respective iPhones later this year.