Foxconn's board of directors approved a total amount of NT$9 billion (US$350 million; US$1=NT$29.542) investments in 4G communications, Internet educational applications, and CNT (Carbon Nanotube) technology on November 13, as reported by the Economic Daily News. Ambit Microsystems, Foxconn's 4G telecom branch, will get the lion's share of NT$6 billion in capital. Foxconn will also spend US$33 million to set up a company in China to tap into the Internet educational application market, as part of its cooperation with NetDragon Websoft for the educational tablets in early November. In addition, Foxconn will inject US$27 million and US$41 million to its subsidiaries of CNT business in Tianjin and Guiyang, China, respectively.