Hon Hai Precision Industry, known by the name Foxconn, is the world’s largest electronics manufacturing company. Foxconn has acquired an 8.88% full-diluted stake in GoPro for $200 million. You may know GoPro best for their versatile cameras used by athletes. Foxconn founder and CEO will join GoPro’s board of directors. Some of the electronics that Foxconn builds include the Apple iPhone, Apple iPad, Sony PlayStation, and Microsoft Xbox.
“Needless to say, we are over the moon to have Terry Gou and Foxconn join us on our mission to scale GoPro into one of the great enabling companies of our time,” stated GoPro Founder and CEO Nicholas Woodman. “Foxconn and GoPro see a future where personal content capture and enjoyment will play an increasingly important role in our lives and we’re excited to combine efforts to strengthen GoPro’s position in that future.”
“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,” said Terry Gou in a statement.