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Foxconn invests in startups for Wearables
Foxconn has launched a project aimed at supporting start-ups in the field of portable gadgets. So Foxconn does not want to just grab these young companies financially under the arms, but also to advise you. Syntrend Creative Park Co, part of Foxconn, will manage the project and select the first participant in the first quarter of next year, get a piece of the $ 6.8 million cakes. Towards the end of 2014, the program will then run completely and first innovations in the world of wearables emerge.
Foxconn stiffened already longer no longer on the pure contract manufacturing business for corporate customers. Too big is the competitive pressure, too small margins. The annual growth target of Foxconn is 15% and can be obtained in this way not so easily maintained. Therefore one tries to get up in other ways. In June, Foxconn founder Terry Gou showed already own SmartWatch and in October, the giant company licenses secured for the 4G network in Taiwan.
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Source: Bloomberg |
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