Foxconn invests in toys

According to DigiTimes Foxconn Electronics will invest $3.1 million in Ugobe Incorporated, a California-based company that develops and markets robotic technology. DigiTimes also reported that Foxconn has been contracted by Ugobe to volume produce Pleo, Ugobe's robotic toy dinosaur. Foxconn's investment in Ugobe will be arranged by the Taiwanese venture capital firm Maxima Capital Management which will invest the same amount, $3.1 million in Ugobe. The investment will strengthen Foxconn's cooperation with Ugobe, including participation in Ugobe's technological development and this is one step in strengthening Foxconn's position as a high-tech toy developer and manufacturer. Foxconn will also establish a hi-tech toy division to develop and manufacture high-technology toys.