Foxconn is buying a renowned Apple accessory maker for $866 million | Cult of Mac

Foxconn is buying a renowned Apple accessory maker for $866 million

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Belkin has long been a manufacturer of high quality Apple accessories.
Photo: Lyle Kahney/Cult of Mac

Long-time Apple device manufacturer Foxconn is about to get even closer to Apple — thanks to its acquisition of well-known iPhone accessory maker Belkin.

According to a new report, Belkin International will be bought by FIT Hon Teng, a Hong Kong-based subsidiary of Foxconn for a massive $866 million. The acquisition also includes Linksys and Wemo-branded products and services, as well as the smart home water management company, Phyn.

To Cult of Mac readers, Belkin is best known as a manufacturer of various accessories for iPhone, iPad, Mac and iPod. Earlier this year at CES 2018, Belkin introduced a plethora of new Apple-friendly accessories, including a Boost Up Bold wireless charging pad, new charging stand, car charging tech, and (most excitingly) Boost Up Dual, which is a dual-charging device that competes directly with Apple’s AirPower mat.

As per the Financial Times, FIT plans for Belkin to create a number of smart home devices that are compatible with HomeKit, along with other ecosystems like Amazon Alexa and Google Home. Since Belkin owns roughly 700 patents, part of the company’s value will also come from its intellectual property.

Foxconn has been working with Apple for around two decades. While the Taiwanese company has certainly taken steps to avoid relying too heavily on Apple, its affiliation with the Cupertino giant has certainly helped rake in some big bucks. We don’t expect that to change any time soon!