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.

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 Stories