Business

Foxconn buys a minority stake in US camera maker GoPro

  • 21 December 2012
  • From the section Business
GoPro camera
Reports earlier this year said GoPro was considering a share sale

Taiwanese manufacturer Foxconn has bought a minority stake in US camera maker GoPro for $200m (£123m).

The deal values the whole of Woodman Labs, the maker of GoPro, at about $2.25bn.

GoPro manufactures a point-of-view camera used mainly for action filming by extreme sports enthusiasts.

Foxconn, which trades as Hon Hai Precision Industry, manufactures products such as the Apple iPhone and iPad as well as Sony's PlayStation.

Foxconn founder and chief executive Terry Gou will be joining the board of GoPro.

A Foxconn spokesperson told the Bloomberg news agency that the image-capture technology complemented the existing display technology owned by the company.

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