Foxconn buys Belkin for $866 Million....

Discussion created by black_zion on Mar 27, 2018
Latest reply on Mar 30, 2018 by pokester

This only leaves Netgear as the sole remaining American wireless networking company...Wish Trump would block the move, or force them to sell off Linksys to an American company...


Belkin bought by iPhone manufacturer Foxconn - CNET

Foxconn, the company best known for assembling iPhones, said Monday it has bought accessory maker Belkin in a deal worth $866 million.


Belkin is known for its phone accessories, which include cases, adapters, chargers (both wiredand wireless) and power cables. It was bought through Foxconn Interconnect Technology (FIT), a subsidiary under Foxconn's Technology Group.


The move not only nets the Taiwanese manufacturer a business in phone, tablet and wearable accessories, but also in Wi-Fi routers and the increasingly lucrative smart home. Included in the deal were Linksys, which makes some of CNET's favourite routers, and Wemo, maker of some of CNET's favourite smart home devices. Both brands are owned by Belkin.


"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," Sidney Lu, CEO of the electronics manufacturer, said in a statement.


It appears Belkin and its brands will be run separately from Foxconn, with the press release noting Belkin CEO Chet Pipkin and his executive team will continue to manage the company. Pipkin is "expected" to join Foxconn management, it added.