Foxconn, a key supplier for Apple, is accelerating its entry into the metaverse, as revealed in a statement by the company’s Chairman, Young Liu.
Liu recently informed the local press about Foxconn’s commitment to the metaverse, labeling 2022 as the ‘first year of the Metaverse‘ for the company.
Foxconn, with an approximate valuation of $90 billion, is known for manufacturing components for technology giant Apple.
The company is now gearing up to integrate various products into its metaverse strategy, including cloud and data centers, wearable devices, semiconductors, and micro LED displays.
In a significant development, Foxconn is set to receive an investment of around $39.8 million from Google for its computer hardware subsidiary, Ennoconn Corporation.
This investment underscores the companies’ shared objective of collaborating on additional metaverse projects, particularly in Taiwan.
Moreover, Foxconn’s founder, Terry Gou, held a virtual event in November, where he used an avatar to present the company’s plans in e-vehicles and the metaverse.
This move highlights Foxconn’s embrace of virtual technology and its commitment to being a part of the growing metaverse trend.
ABOUT Foxconn
Foxconn (Hon Hai Precision Industry Co., Ltd.) is a Taiwanese multinational electronics contract manufacturer. It is the largest electronics manufacturer in the world and one of the largest employers globally.
Beyond Electronics: In recent years, Foxconn has also been expanding into new fields, including electric vehicles (EVs), AI servers, and semiconductors.
What It Does: Foxconn does not sell products under its own name. Instead, it is the manufacturing partner for most of the world’s largest technology companies.
Famous For: It is best known as the primary manufacturer of Apple‘s iPhone.
Major Customers: Besides Apple, its clients include Dell, HP, Sony (PlayStation), Microsoft (Xbox), Amazon (Kindle), and many other major tech brands.
Scale: The company operates massive factories, particularly in China, including a famously large complex in Zhengzhou known as “iPhone City.”
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