iPhone manufacturer Foxconn acquires Belkin, Linksys, and Wemo for $866m
By Abhimanyu Ghoshal
Taiwanese hardware manufacturer Foxconn, which is contracted by Apple to make its iPhones, has agreed to acquire accessory firm Belkin and its associated brands, Linksys, and Wemo for $866 million in cash, by way of a merger. That’s a huge move for Foxconn as this is the first time in its 44 years of existence that it’s venturing into owning and operating consumer-facing brands. The plan with its new buy is to grow into a smart home gadgets powerhouse, and it seems like a natural progression for the three brands it’s now acquired. California-based Belkin has been in the business…
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March 27, 2018 at 07:02AM
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