Overview

• Foxconn, the world's largest producer of iPhones, has launched two prototype low-Earth orbit satellites into space from Vandenberg Space Force Base in southern California using a SpaceX rocket.
• The satellites, named PEARL-1H and PEARL-1C, were co-developed with Taiwan's National Central University and are set to orbit Earth every 96 minutes at an altitude of 520 kilometers.
• This move is part of Foxconn's initiative to diversify its operations and cater to the growing demand for space-based communication services, as its core businesses such as smartphones and laptops face multiple challenges.
• Unlike Elon Musk's SpaceX, which has launched over 5,000 satellites for its Starlink constellation, Foxconn aims to manufacture satellites mainly for corporate and government clients.
• Foxconn's venture into space technology signifies a strategic shift for the company, as it looks to diversify its portfolio and reduce reliance on traditional businesses facing numerous challenges.