Foxconn recently announced that it has officially acquired 100% stake in a PC and phone accessory maker Belkin International for approximately USD 866 million through its subsidiary Foxconn Interconnect Technology which focuses on building cables and connectors, the United Daily News reported on September 21. This acquisition not only will help Foxconn diversity its product portfolios but also help the company deepens its presence in the consumer market as Belkin also owns three consumer brands such as Linksys, Wemo and Phyn. Founded in 1983, Belkin has retailers, wholesalers, and distributors in the United States, Canada, South America, the Asia Pacific, and Europe. Therefore, Foxconn can now leverage Belkin's assets in R&D, global market channels, and over 700 patents, Linksys' home router business, and Wemo's smart home business. The purchase has been completed after being approved by the US Committee on Foreign Investment.