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iPhone manufacturer Foxconn acquires electronics accessory maker Belkin for $866 million

After announcing to manufacture large LCD displays and plan to build a $10 billion plant in Wisconsin, Taiwan-based Apple iPhone manufacturer Foxconn is buying U.S. electronics accessory maker Belkin Intl. for $866 million.

Belkin after being acquired by Foxconn will be giving the latter a U.S. maker of smart phone devices and Linksys routers apart from accessories for Apple and Android devices.

In a report by USA Today, CEO of Foxconn Interconnect Technology (FIT) Sidney Lu stated how Belkin will give them premium consumer products to penetrating the ‘smart home’.

She said: “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.”

Lu added that Belkin “grants us access to more resources to invest in our people and to aggressively pursue opportunities in the marketplace.”

(Photo source: Twitter – @belkin)