iPhone Manufacturer Foxconn Buys Belkin
Foxconn, which is Taiwanese electronics maker and best known for assembling iPhones, declared on Monday that, the Belkin, Linksys, and Wemo have been bought by them. Foxconn said on Monday, it has bought accessory maker Belkin in a deal worth $866 million.
In a statement, Sidney Lu, CEO of the electronics manufacturer, said: ” Integrating Belkin’s best-in-class capabilities and solutions into a FIT, we expect to enrich our portfolio of premium consumer products and accelerate our penetration into the smart home “.
Press release, noting Belkin CEO Chet Pipkin and his executive team will continue to manage the company, it appears Belkin and its brands will be run separately from Foxconn. Also known that Pipkin is “expected” to join Foxconn management.
The move will give an opportunity to the Taiwanese manufacturer. Because, Taiwanese manufacturer will not only doing business in the phone, tablet and wearable accessories but also in Wi-Fi routers and the increasingly lucrative smart home.
Innovators are thinking up new ways to make you, and the things around you, smarter. Foxconn has been responsible for assembling some of the most popular tech devices in the world, including iPhones, PlayStation 4s and Xbox Ones.
In this deal, Linksys, Wemo and Belkin, will make some different things, that’s are: Linksys, makes some of CNET’s favorite routes. Wemo, makes some CNET’s favourite smart home devices. Those 2 brands are owned by Belkin.
Belkin, was bought through (FIT)Foxconn Interconnect Technology, a subsidiary under Foxconn’s Technology Group. Belkin is known for its phone accessories, like adapters, power cables and chargers both (wired /wireless).
SUBSCRIBE & SHARE