The company that makes a number of products for other companies bought a stake in rugged camera maker GoPro. Foxconn is widely known for making Apple’s iPhone and iPad but also makes the Sony PlayStation 3 and Microsoft’s Xbox 360.
This week GoPro announced that Foxconn purchased 8.88 % of the company for $200 million, which puts GoPro’s value at $2.25 billion. Not a bad deal for GoPro. And probably not a bad move either. GoPro reportedly couldn’t meet demand for the holidays, and Foxconn certainly knows how to deliver. While Foxconn came under scrutiny after a wave of employee suicide attempts the contract manufacturer has reportedly increased pay and improved worker conditions.
Still, let’s just hope GoPro cameras aren’t used to show any Foxconn employee suicides.