advertisement
advertisement

Foxconn Invests $200 Million In GoPro

Action camera system GoPro is such a hot property that Foxconn, better known as Apple’s Chinese manufacturing partner, just bought 9% of the company.

Foxconn Invests $200 Million In GoPro

Foxconn, or rather Hon Hai Precision as it’s officially known, has just forked over $200 million for an 8.88% stake in GoPro, the Californian camera maker that specializes in rugged cameras that can be easily mounted to capture the endeavors of outdoor sports enthusiasts.

advertisement

That investment values GoPro at $2.25 billion in total. The press release notes Foxconn CEO Terry Gou as seeing a “great opportunity” in investing in GoPro, not only for the products but also for founder Nick Woodman. GoPro sold 800,00 cameras and grew 300% last year, according to recent stats.

Foxconn is better known for its role as one of Apple’s most important Chinese-based manufacturing partners. The firm has been beset by controversy, but has set its sights on expanding–first into Brazil, then a rumored U.S. factory–and on significant robotization of its production lines.

[Image: Flickr user Axion23]

About the author

I'm covering the science/tech/generally-exciting-and-innovative beat for Fast Company. Follow me on Twitter, or Google+ and you'll hear tons of interesting stuff, I promise.

More

Video