Question regarding "Fender stratocaster squier series"

[guobin1234]

Hi guys, I new to guitar and is wondering if a "FENDER STRATOCASTER SQUIER SERIES" is a fender or a squier? Quality wise is it in between the middle of both, or leaning to either side? And what is its value? Attached a photo of the guitar headstock for reference purposes. Thanks!

 

[Junior_]

From what I understand the Squier series were meant as export models. It uses cheaper hardware and pickups compared to the standard MIM Fenders. Some people on forums such as strat-talk considered it to be equivalent to the present day Squier Standards.

In terms of whether its a Fender or Squier, I don't think there is a clear line since Squier is a subsidiary of Fender.