Foxconn buys $200 million worth GoPro
Foxconn has announced that it has made a significant investment in the small digital camcorder maket GoPro. GoPro has been around for a long time and makes some of the most popular ruggedized digital cameras on the market. The scammers often used for action sports such as auto racing, mountain biking, and lots more.
Foxconn has invested $200 million in GoPro to purchase 8.88% of the company. The $200 million purchase will also get Foxconn founder and CEO Terry Gou a seat on the GoPro board. The investment made by Foxconn values GoPro at $2.25 billion.
It would be no surprise if Foxconn also gets to start building the GoPro cameras considering Foxconn's manufacturing prowess. However, that has not been confirmed. Terry Gou added, "I saw a great opportunity in investing in GoPro, not only the company's product lines but also the man who is running the company. The first time I saw Nick Woodman, I immediately knew he was an outstanding entrepreneur who has the caliber to be very successful in this business. And together with Foxconn, the outlook of this company is even brighter as we commit to helping it achieve its fullest potential."