Bengaluru, Karnataka, February 13, 2014: Foxconn, world’s leading manufacturer of computer components and systems, has announced that it will be setting up joint venture to market education-use tablets.
Foxconn is establishing joint venture with Foxteq Holdings, NetDragon Websoft and Vision Knight Capital with respective stake ratios of 45%, 49% and 6% specifically for marketing education-use tablets in the China market initially followed by markets in Asia.
The joint venture will combine Foxconn’s hardware manufacturing capability with NetDragon’s software development competence. The joint venture will have registered capital of US$20 million and initial paid-in capital of US$8 million. In addition to ODM/OEM production for international vendors, Foxconn has offered education-use tablets its affiliate YongLin Education Foundation.