Foxconn pledges to boost metaverse development this year

Foxconn Chairman Young Liu said that the Apple parts manufacturer will step up its plans to tap into the metaverse arena this year, the company told local media on Wednesday.

Fast facts

• Liu labelled 2022 as the Taiwanese tech giant’s “first year of the metaverse”.

• The company sets to incorporate metaverse elements into its product lineups like wearable devices, cloud and data centers, semiconductors, micro-LED displays and content.

• Foxconn is a Taiwanese electronics company that manufactures components for Apple with almost US$90 billion in market capitalization. 

• Earlier this month, Foxconn’s computer hardware subsidiary Ennoconn Corporation is set to receive a NT$1.1 billion (US$39.8 million) investment from Google, as the two plan to cooperate on more metaverse projects in Taiwan.

• In November, Foxconn organized an online virtual event where its founder Terry Gou appeared as an avatar to demonstrate the company’s e-vehicle and metaverse ambitions.