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China Robotics Industry Records Rapid Sales Growth

Over 19,000 domestically made robots were sold during the first half of 2016, up 70.8% year-on-year. Aggregate sales totaled RMB2.6 billion (US$384 million) during the period, up 40% year-on-year, according to data released by China Robot Industry Alliance.

Alibaba, Foxconn To Invest $240M In SoftBank Robotics

Alibaba Group Holdings and Foxconn Technology Group have agreed to each invest 14.5 billion Japanese Yen (US$120 million) in SoftBank Corp’s robotic subsidiary, according to a joint announcement. Upon completion of the deal, Alibaba and Foxconn will each hold 20% of SoftBank Robotics Holdings Corp, while parent SoftBank will own the other 60%. Alibaba and Foxconn say they plan to help bring SoftBank Robotics’ products to the global markets.