Foxconn Invests $200M In U.S. Camera Maker
SAN MATEO, Calif. (AP) — Hon Hai Precision Industry Co., the Taiwanese contract electronics manufacturer known as Foxconn, is buying an 8.88 percent stake in Woodman Labs Inc., the maker of the GoPro line of camcorders for surfing and other sports, for $200 million.
Foxconn's factories assemble Apple products like the iPhone and iPad, and the company has shown interest recently in expanding its facilities into the U.S.
Terry Guo, Foxconn's founder and CEO, will take a seat on the board of Woodman Labs, the San Mateo, Calif., company said Thursday. Woodman Labs is privately held.