Foxconn is a huge company, but given their affiliation with Apple, many have associated them to be mainly the manufacturers of Apple’s iOS products. Perhaps hoping to break away from that image and reducing their reliance on Apple for business, Foxconn has entered into other ventures, and according to a report by Bloomberg, the Chinese company is looking to start up an investment fund in which it will focus on developing new kinds of wearable technology. Foxconn’s foray into wearable technology is not new as the company has demonstrated their own brand of smartwatch earlier this year.
Foxconn unit, Syntrend Creative Park, will be administering a $6.8 million fund and will be selecting candidates for trial come Q1 2014. It is unclear what sort of products or innovations that would be a result of this investment, so we guess we’ll just have to keep our eyes peeled for more info. This is not the first time Foxconn has reportedly ventured into other areas of business. We had also heard that the company was looking to bid for 4G spectrum in Taiwan, and will also be working with the folks at Mozilla at creating Firefox OS devices.