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Foxconn reportedly to launch startup fund for wearable tech

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Foxconn, perfect My Amend  identified for assembling Apple’s iPhones and iPads, is launching a funding fund to make stronger startups all in favour of developing new varieties of wearable computers, Bloomberg stories. Foxconn unit Sintered creative Park will administer the $6.eight million fund and make a selection of candidates for trial within the first quarter of the brand new year, Bloomberg said, citing unidentified sources. Then again, an associated incubator to provide places of work and advisory products and services for startups shouldn’t be expected to be operational except at the end of the following yr.

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CNET has contacted Foxconn for a remark and can replace this document once we examine it more. Foxconn, which has also produced shopper electronics for Microsoft, Dell, and Sony, it appears, has aspirations beyond manufacturing for different companies. just a month after reportedly receiving 1,000 orders for the so much-rumored Apple smartwatch as a trial run, the Taiwanese company demoed a smartwatch at a shareholders assembly this summer that can wirelessly hook up with an iPhone to display incoming cell phone calls and fib posts.