It is quite commonplace to see Apple making headlines every now and then, either for its products or its innovations. It looks like companies associated with Appal are also making buzz these days. In a new development, Foxconn the largest iPhone supplier has made a foray into outer space. The Taiwanese electronics brand has developed new LEO satellites. A couple of low-Earth orbit satellites made by Foxconn set off for space from southern California’s Vandenberg Space Force Base and the event made headlines.
For the Taiwanese electronics giant, it is a diversification and will go a long way in establishing its grasp on the technology sector. The development comes at a time when certain segments in the tech industry such as laptops and smartphones are undergoing a low phase. Foxconn is therefore eyeing new realms. However, its new foray may not be a smooth one. The company will face steep competition from Space Exploration Technologies Corp of Elon Musk. The latter venture has already launched over 5,000 LEO satellites to set up its much-touted Starlink constellation.
For Foxconn, the aim is to develop such satellites for government and corporate clients. The satellites launched by the company were made in alliance with the National Central University of Taiwan. These are small satellites resembling a backpack and weighing only 20 pounds. They are laden with advanced communication devices and cameras. These LEO satellites will take 96 minutes to orbit the Earth once.
Foxconn will be able to enhance its profits by diversifications and it expects to bag a bulk order from the Taiwanese government each year for developing satellites. It is also betting big time on the new electric-vehicle wing.