Foxconn buys Belkin and its Related Brands

Foxconn buys Belkin and it's Related Brands

Foxconn buys Belkin and it’s Related Brands. Lately on Monday, Taiwanese hardware manufacturer Foxconn announced the acquisition of accessory firm Belkin and its associated brands, Linksys, and Wemo.

This acquisition indicates that Foxconn, known best for manufacturing the iPhone, will soon have its own lineup of routers and other computer accessories.

Foxconn buys Belkin and it's Related Brands

Meanwhile, California-based company Belkin is a well-known brand when it comes to computer and smartphone accessories, such as routers, wireless chargers, laptop docks, and more. Also, Belkin has a smart home system called WeMo.

The deal to buy the electronics maker has a price tag of $866 million (roughly N311,760,000,000 Trillion) by way of a cash merger, the companies announced in a joint statement.

ALSO READ: Meet World Largest Solid State Drive (SSD) with 100TB Storage Space

“FIT is excited to acquire Belkin and its capabilities in the premium consumer products space,” said Sidney Lu, CEO, FIT. “Integrating Belkin’s best-in-class capabilities and solutions into FIT, we expect to enrich our portfolio of premium consumer products and accelerate our penetration into the smart home,” he added.

This is a major move by Foxconn, as it is coming out of being a manufacturing partner to the owner of three popular consumer brands. Using Belkin’s research and development capabilities, FIT expects to tap into the premium accessories and the smart home market, the company said. This would also help Belkin to grow its portfolio of brands and products by more investment in research, development, and engineering..

ALSO SEE:  Chrome, Firefox and Edge to replace Web Password with WebAuthn: Why and it Function

Get Our Hottest Updates via SMS. Kindly SMS FOLLOW TUTORIALSCOPE to 40404 . On Any Network. To Submit Your Guest Post Or Sponsored Article, Enter HERE . Click HERE To Join Telegram Group
wizytechs blog-bg

Want more of this? Subscribe Below for Free

No spam guarantee.


Leave a Reply

Your email address will not be published. Required fields are marked *