Hon Hai Precision Industry, also known as Foxconn, has sold what may prove to be some highly valuable display patents to Google (NASDAQ:GOOG), reports the Wall Street Journal. Hon Hai is primarily known as a major supplier to Apple (NASDAQ:AAPL). The Taiwan-based manufacturer derives an estimated 60 to 70 percent of its revenue from Apple, according to Reuters.
The Apple supplier declined to disclose the value of the sale. However, Hon Hai revealed that at least one of the patents is related to a wearable technology that is able to project a virtual image on top of a “real-world view,” reports the Wall Street Journal.
Although this patent seems to outline a technology similar to what Google is using for its Google Glass product, it is unknown if the patent purchase was related to the company’s upcoming wearable tech device. Google Glass is currently in beta testing and is expected to be fully launched next year.
Hon Hai has recently been making moves to expand its business beyond assembling products for Apple. Although it is not a head-mounted device, Hon Hai has previously announced that it is developing its own wearable tech product. Hon Hai chairman Terry Gou demonstrated a Wi-Fi enabled smartwatch device equipped with a 5-megapixel camera in June, reports Want China Times.
According to a note acquired by Apple Insider from KGI Securities analyst Ming-Chi Kuo last month, Apple is looking to expand its manufacturing base beyond its two major suppliers – Hon Hai and Pegatron. Here’s how Apple has traded over the past week.
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