Foxconn acquires stake in SK Group’s IT division

Mobile & tablets

by CBR Staff Writer| 01 July 2014

To help Foxconn develop 'new business opportunities'.

Contract electronics manufacturer Foxconn has reportedly spent $375m to acquire 4.9% stake in IT services provider SK C&C, a division of South Korea's third largest multinational SK Group.

The latest "long-term investment" in SK C & C is anticipated to help Foxconn develop 'new business opportunities'.

Foxconn said in a statement to AFP as saying: "This transaction is a win-win strategic partnership for both of our companies as it brings together a unique combination of capabilities to create synergies that will benefit current operations while also supporting efforts to jointly develop new business opportunities."

Foxconn offers contract manufacturing work for firms including Apple, which outsources the production of iPhones, iPads and other products to the Taiwanese group's vast Chinese facilities.

Recent reports also reveal that Foxconn is planning a shift into robots, electric cars, wearables, cloud computing and networking technologies, diversifying beyond smartphone electronics and white box IT equipment.

The Taiwanese firm is also collaborating with Japan based SoftBank to develop its emotion-reading robot named Pepper, which had been rolled out on June 5.

Post a comment

Comments may be moderated for spam, obscenities or defamation.

Join our network

791 people like this.
2236 people follow this.

Mobile & tablets Intelligence

Buy the latest industry research online today!
See more

Suppliers Directory

Privcy Policy

We have updated our privacy policy. In the latest update it explains what cookies are and how we use them on our site. To learn more about cookies and their benefits, please view our privacy policy. Please be aware that parts of this site will not function correctly if you disable cookies. By continuing to use this site, you consent to our use of cookies in accordance with our privacy policy unless you have disabled them.