Foxconn Acquires Popular Accessory Maker Belkin Along With Linksys and Wemo

[MacRumors]

Foxconn is best known as an Apple supplier that assembles Apple's devices and supplies components to the Cupertino-based company, but as of today, it's taking over a major Apple accessory maker.

Foxconn Interconnect Technology (FIT), a Foxconn subsidiary, today announced that it has acquired Belkin International in a deal that's worth $866 million. The acquisition includes the Belkin brand along with Linksys, Wemo, and Phyn, other companies owned by Belkin.

One of Belkin's recently introduced wireless charging accessories​

The acquisition will allow Foxconn Interconnect Technology to "further tap into premium accessories and the smart home market." The deal is also expected to expand Belkin's presence both in the United States and "key markets globally."

"FIT is excited to acquire Belkin and its capabilities in the premium consumer products space," said Sidney Lu, CEO, FIT. "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."

"This move will accelerate our vision of delivering technology that makes the lives of people around the world better, more convenient and more fulfilling. I am thrilled to take our brand portfolio of Belkin, Linksys, Wemo and Phyn to new heights," said Chet Pipkin, CEO and founder, Belkin International. "We see significant synergies with FIT, including leveraging its world-class manufacturing capability to enhance Belkin's operating efficiency and competitiveness. The transaction also grants us access to more resources to invest in our people and to aggressively pursue opportunities in the marketplace."

Under the Belkin brand, Belkin offers a wide range of iPhone, iPad, and Apple Watch cases, cables, adapters, wireless chargers, and more, while the Wemo brand offers HomeKit-compatible home automation devices. Through Linksys, Belkin sells wireless routers and similar accessories, and the Phyn brand offers a smart water assistant for monitoring for leaks.

All of the Belkin-owned brands will continue to operate as subsidiaries under Foxconn Interconnect Technology.

Article Link: Foxconn Acquires Popular Accessory Maker Belkin Along With Linksys and Wemo

 

[BeefCake 15]

I hope that props up Linksys and Belkin's products!

 

[JediZenMaster]

I hope the deal falls apart. We don’t need less competition.

 

[kildraik]

That’s a YUGE purchase.

I hope that props up Linksys and Belkin's products!

What does that sentence mean?

 

[akfgpuppet]

Hope this brings more HomeKit and a new AirPort Express from LinkSys.

 

[laurim]

Hope this means my Wemos will finally ALL be HomeKit compatible so I can stop using a raspberry pi workaround to get the bulbs and Maker work. And hopefully Apple will authorize them to make inexpensive listeners like the Echo Dot so I can use Siri around the house without carrying my phone around. Dreams!
[doublepost=1522114529][/doublepost]

I hope the deal falls apart. We don’t need less competition.

They were already all under Belkin. Doesn’t change any competition

 

[JediZenMaster]

Hope this means my Wemos will finally ALL be HomeKit compatible so I can stop using a raspberry pi workaround to get the bulbs and Maker work. And hopefully Apple will authorize them to make inexpensive listeners like the Echo Dot so I can use Siri around the house without carrying my phone around. Dreams!
[doublepost=1522114529][/doublepost]
They were already all under Belkin. Doesn’t change any competition

From a Foxconn standpoint though I don’t want them to start scooping up TP link or Netgear

 

[Rogifan]

Is this a Chinese company that purchased Belkin? If so will the US government approve it or do they have no say?

 

[whitedog]

I hope the deal falls apart. We don’t need less competition.

This not a competitive issue. Foxcom doesn't make the kind of products that Belkin sells. Which is the point of the acquisition. At the same time, they will, as the press release says, make additional resources available to Belkin, including parts and scale in manufacturing—and money. Not all acquisitions are evil. Apple acquires stuff all the time to enhance their access to products and expertise.

 

[garoto]

I hope the deal falls apart. We don’t need less competition.

How, exactly is Foxconn and Belkin competing and therefore resulting in less competition?

 

[BeefCake 15]

That’s a YUGE purchase.


What does that sentence mean?

Improved tech

 

[Shirasaki]

Uh oh, further influence from Chinese company.

 

[McG2k1]

Cool! Now I don’t have to actively seek ways to get my router hacked, now it’ll come pre-modified.

 

[Analog Kid]

Makes sense. Most of the cost of a Belkin product is in the manufacturing, but most of the profit went to Belkin. Now Foxconn gets the margins.

Uh oh, further influence from Chinese company.

China is the second largest economy in the world-- you should expect to see them turn up everywhere.

 

[mabhatter]

I hope the deal falls apart. We don’t need less competition.

Realistically these products are “solved” markets. The real difference is in what you can do with the brand execution. Heck none of these companies actually make the stuff they sell anyway.. Foxconn and the other “invisible giant mega corps” do all the actual making now.

 

[Chupa Chupa]

Is this a Chinese company that purchased Belkin? If so will the US government approve it or do they have no say?

Foxconn is only a Chinese company if you are a member of the CCP. To the rest of the world it’s a Taiwanese company. U.S. has a say. Can’t think of a legit reason to deny the sale. USB hubs and WiFi routers are hardly national security tech.

 

[B4U]

Is this a Chinese company that purchased Belkin? If so will the US government approve it or do they have no say?

It is a Taiwanese company.

Meanwhile, I hope they don't get bought out by companies from China. That will really screw up Linksys.
[doublepost=1522118035][/doublepost]

Uh oh, further influence from Chinese company.

Again, it is a Taiwanese company.

 

[haruhiko]

Uh oh, further influence from Chinese company.

MacRumors just approved the reunification of China on behalf of the 1.3 billion people across the strait.

 

[TheIntruder]

Terry Gou, Foxconn's founder, is Taiwanese, as is his company.

Not to be compared with Ren Zhengfei, a former Chinese Army member, or his company, Huawei, which has been under U.S. government scruitny.

Foxconn doesn't have a retail presence or brand, per se, so this is another step in its efforts to not only establish itself in that space, but also further vertical integration.

It has acquired Sharp, but is said to be looking to acquire Toshiba PC's business.

 

[x0vash0x]

MacRumors just approved the reunification of China on behalf of the 1.3 billion people across the strait.

The CCP approves of this thread.

 

[elvisimprsntr]

One can only hope this means Linksys stock firmware will get better. It can’t possibly get any worse. I’ve flashed either DD-WRT, more recently LEDE, to Linksys routers for 12+ years.

 

[Shirasaki]

It is a Taiwanese company.

Meanwhile, I hope they don't get bought out by companies from China. That will really screw up Linksys.
[doublepost=1522118035][/doublepost]
Again, it is a Taiwanese company.

Given the mutual threat from China mainland, I am still a bit worried that Foxconn will be infiltrated or overtaken by the Chinese government.
[doublepost=1522118649][/doublepost]

Makes sense. Most of the cost of a Belkin product is in the manufacturing, but most of the profit went to Belkin. Now Foxconn gets the margins.


China is the second largest economy in the world-- you should expect to see them turn up everywhere.

I just hope its infestation to the other parts of the world could be slowed down or stopped.

 

[Jax44]

Uh oh, further influence from Chinese company.

Taiwan

 

[oneMadRssn]

Hope this brings more HomeKit and a new AirPort Express from LinkSys.

Eww no. Most people get an Airport to get away from Linksys.

 

[DeepIn2U]

I hope that props up Linksys and Belkin's products!

More like GULP! Rebrand as a whole.