Foxconn, the companyfor assembling iPhones, said on Monday that Belkin had bought the accessory maker Belkin worth $ 866 million
Belkin is known for its phone accessories, the case, Adapter includes chargers (both wired and) and power cords. It was acquired by Foxconn Interconnect Technology (FIT), a subsidiary of Foxconn Technology Group.
The move not only brings the Taiwanese manufacturer into the business of telephony, tablet and wearable accessories, but also into wireless routers and increasingly lucrative smart homes. Included in the deal were Linksys, which make some of CNET's most popular routers, and Wemo, makers of some of CNET's most popular smart home devices. Both trademarks are the property of Belkin.
"By integrating Belkin's world-class features and solutions into FIT, we will enrich our portfolio of premium consumer products and accelerate our smart home market penetration," said Sidney Lu, Belkin's CEO
It seems that Belkin and its brands will run separately from Foxconn, with the press release referring to Belkin CEO Chet Pipkin and his leadership team will continue the company. Pipkin is "expecting" Foxconn to join management, he added.
Foxconn has been responsible for compiling some of the world's most popular tech devices, including iPhones, PlayStation 4, and Xbox One. However, it has been targeted over the years for alleged ill-treatment of its workers, most recently includingand .
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