26 March 2018 -
Foxconn will soon be also known as the company behind some of the best known routers apart from being well known for manufacturing Apple's iPhones.
A subsidiary to the Taiwanese company, Foxconn Interconnect Technology, announced to be acquiring Belkin, the popular firm that owns brands like Wemo and Linksys.
The subsidiary mainly focuses on building cables and connectors.
California-based Belkin is a three-decade company and throughout the years has been known for creating computer and phone accessories like phone cases, laptop docks and wireless chargers. In 2013 it acquired Linksys, which is again well known for home routers. Later, from about five yeas from now it has been running a smart home system Wemo.
Acquiring Belkin is considered as one of the major shifts for the iPhone manufacturer to own three major consumer brands instead of remaining a behind-the-scenes manufacturing partner.
Media reports reveal the deal to include $866 million in cash and is should be subject to approval from the US Committee on Foreign Investment.
The purchase cannot be considered as safe in the current political scenario in the United States as there have been some other high profile foreign acquisitions shut down under Donald Trump administration.
However, the company has pledged to be building up a $10 billion factory in Wisconsin and this suggests it to stay on the good side of Trump administration.
Since beginning of 2018 the company has been revealing the desire to branch out and even to diversify its business. As of now half of its sales come from Apple. So this mean the business is at risk as the iDevice giant may change partner or iPhone may lose popularity. Hence, the new policy is an attempt by Foxconn to fix the risk.
Author John Muroto
Foxconn will soon be also known as the company behind some of the best known routers apart from being well known for manufacturing Apple's iPhones.
A subsidiary to the Taiwanese company, Foxconn Interconnect Technology, announced to be acquiring Belkin, the popular firm that owns brands like Wemo and Linksys.
The subsidiary mainly focuses on building cables and connectors.
California-based Belkin is a three-decade company and throughout the years has been known for creating computer and phone accessories like phone cases, laptop docks and wireless chargers. In 2013 it acquired Linksys, which is again well known for home routers. Later, from about five yeas from now it has been running a smart home system Wemo.
Acquiring Belkin is considered as one of the major shifts for the iPhone manufacturer to own three major consumer brands instead of remaining a behind-the-scenes manufacturing partner.
Media reports reveal the deal to include $866 million in cash and is should be subject to approval from the US Committee on Foreign Investment.
The purchase cannot be considered as safe in the current political scenario in the United States as there have been some other high profile foreign acquisitions shut down under Donald Trump administration.
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However, the company has pledged to be building up a $10 billion factory in Wisconsin and this suggests it to stay on the good side of Trump administration.
Since beginning of 2018 the company has been revealing the desire to branch out and even to diversify its business. As of now half of its sales come from Apple. So this mean the business is at risk as the iDevice giant may change partner or iPhone may lose popularity. Hence, the new policy is an attempt by Foxconn to fix the risk.
Author John Muroto
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