Foxconn is making Sirin Labs’ $1,000 blockchain phone for cryptocurrency geeks

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Sirin Labs made the news last September when it unveiled a blockchain-powered phone and PC that would act as secure wallets for your cryptocurrency fortune. It’s now found a manufacturer in Foxconn, the Taiwanese firm that builds iPhones for Apple. The $ 999 Finney phone will let you store and shop with virtual currencies like Bitcoin, and allow you to earn tokens by sharing your mobile data connection with people around you; it also promises enhanced security thanks to its open-source Android-based Sirin OS. Bloomberg reports that a physical switch will activate coin-related services, and that users will eventually be able…

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iPhone assembler Foxconn sees rise in holiday quarter profits despite gloomy expectations

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Among the gloomy predictions being made for iPhone X sales, analysts were predicting that lead iPhone assembler Foxconn would announce declining profits for Q4 2017 …

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Foxconn profits ride high on iPhone X, dispelling worries about Apple’s sales

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Apple assembly partner Hon Hai — better known as Foxconn — has posted net income of $ 2.5 billion for the December quarter, reportedly linked to strong orders and consequent sales of the iPhone X.
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Apple supplier Foxconn buys Belkin for $866M in case to carve out its smart home business

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Foxconn Interconnect Technology Limited (FIT), a company most famous for being a supplier of Apple’s smartphones announced it has bought US consumer electronics maker Belkin International for $ 866M.

Belkin F7U014 wireless charging pad

Belkin is a maker of consumer electronics products including wireless chargers, home automation, and intelligent water solutions. Its three core brands are Belkin, Linksys and, WeMo. FIT expects to leverage Belkin’s sales networks, technology and production capabilities, thus carving out its ‘smart home’ business by acquiring Belkin as well as its Linksys and Wemo businesses.

The acquisition was framed as a merger between FIT and Belkin leaving Chet Pipkin, CEO and founder, Belkin International at the helm of Belkin with additional responsibilities as part of FIT’s management team. “FIT is excited to acquire Belkin and its capabilities in the premium consumer products space,” Integrating Belkin’s best-in-class capabilities and solutions into FIT, we expect to enrich our portfolio of premium consumer products and accelerate our penetration into the smart home,” said Sidney Lu, CEO, FIT.

The merger announcement comes on the heels of President Trump’s blockage of Broadcom’s bid to acquire Qualcomm. “The FIT-Belkin merger is subject to approval from the Committee on Foreign Investment in the United States,” reports Financial Times.

As opposed to the current trend of hardware startups raising millions in several rounds of outside investments, Belkin only raised a private equity round in 2002 led by Summit partners. Neither it acquired any companies during its growth journey to become a multi-million enterprise.

On the contrary, Apple supplier Foxconn previously bought several companies to grow beyond smartphone market. It bought Japan-based Sharp Corporation, a manufacturer and, a seller of electric telecommunication, electric and electronic equipment for $ 3.8B in Mar 2016.

FIT-Belkin merger marks the second high-profile acquisition deal of 2018 as Google announced last month its acquisition of Xively from LogMeIn for $ 50M.


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Foxconn to acquire Apple accessory maker Belkin for $866 million

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Mergers and acquisitions have decimated the once-thriving Apple accessory industry over the past several years, but the latest deal is more positive than most: Taiwanese manufacturing giant Foxconn announced today that it is purchasing U.S.-based Belkin, one of the biggest names in the accessory business. The $ 866 million all-cash deal will see Bel…Read More
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Foxconn is buying a renowned Apple accessory maker for $866 million

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Long-time Apple device manufacturer Foxconn is about to get even closer to Apple — thanks to its acquisition of well-known iPhone accessory maker Belkin. According to a new report, Belkin International will be bought by FIT Hon Teng, a Hong Kong-based subsidiary of Foxconn for a massive $866 million. The acquisition also includes Linksys and […]

(via Cult of Mac – Tech and culture through an Apple lens)

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Foxconn acquires Belkin for $866 million

How Complete Beginners are using an ‘Untapped’ Google Network to create Passive Income ON DEMAND

Belkin accessories

Foxconn Interconnect Technology, a Foxconn subsidiary, is acquiring popular accessory maker Belkin for $ 866 million in cash, the companies jointly announced on Monday. The deal will also include other brands in the Belkin portfolio, including Linksys, Wemo, and Phyn…. Read the rest of this post here


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iPhone manufacturer Foxconn acquires Belkin, Linksys, and Wemo for $866m

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Taiwanese hardware manufacturer Foxconn, which is contracted by Apple to make its iPhones, has agreed to acquire accessory firm Belkin and its associated brands, Linksys, and Wemo for $ 866 million in cash, by way of a merger. That’s a huge move for Foxconn as this is the first time in its 44 years of existence that it’s venturing into owning and operating consumer-facing brands. The plan with its new buy is to grow into a smart home gadgets powerhouse, and it seems like a natural progression for the three brands it’s now acquired. California-based Belkin has been in the business…

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Foxconn Acquiring Belkin, Linksys, and Wemo for $866 Million

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Foxconn, known primarily for assembling iPhones and various other products for Apple, today announced that it has acquired Belkin. The latter is primarily known for its high-quality iPhone and MacBook accessories. However, Belkin also own two other popular brands: Linksys and Wemo.  Continue reading
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Report: Apple supplier Foxconn to acquire accessory maker Belkin for $866M

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A Hong-Kong based subsidiary, FIT Hon Teng, of Taiwan-based iPhone supplier Foxconn is looking to acquire Belkin, a well-known iPhone accessory maker.

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