Hon Hai Precision, popularly known as Foxconn, has invested $200 million in GoPro that makes highly versatile cameras. The investment will give Foxconn 8.8 percent stake in the company and Foxconn’s founder and CEO, Terry Gou will join the board of the company. This gives GoPro a valuation of $2.25 billion. Also Read - Apple Music Lossless, Spatial Audio features with Dolby Atmos coming soon to IndiaAlso Read - Realme Book, Realme Pad teased, will launch later this year: Details here
This is an interesting investment for Foxconn, which was also looking at picking up a stake in Sharp’s display manufacturing business but that deal fell through. Eventually Qualcomm invested $120 million in Sharp to pursue the next generation display venture. Also Read - Truecaller on Android can now clean up your SMS inbox spam with one tap
Foxconn is the world’s largest contract manufacturer and is famous for being Apple’s manufacturing partner for iPhone and iPad apart from manufacturing Sony’s PlayStation and Microsoft’s Xbox among others. If you have used any smartphone, laptop or gaming console, there is a huge possibility of it being manufactured in one of Foxconn’s many factories in China.