Company: FOXX
Filing Date: 2025-01-24
Form Type: 424B3
Source: 0001213900-25-006111
Chunk: 93

Company: Foxx Development Holdings Inc.
Filing Date: 2025-01-24
Form: 424B3
Chunk 93
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 Stock and the Warrant became listed on the Nasdaq Capital Market under trading symbols “FOXX” and “FOXXW,” respectively. Our principal executive office is 13575 Barranca Parkway C106, Irvine, CA 92618. The Company’s principal website address is https: // foxxusa.com. We do not incorporate the information contained on, or accessible through, our websites into this prospectus, and you should not consider it a part of this prospectus. The following charts summarize our corporate legal structure and identify our subsidiaries as of the date of this prospectus: 55 MARKET OPPORTUNITIES In the United States, approximately 170 million smartphones are purchased annually, with Apple, Samsung, and Moto collectively occupying 86.5% of the market share. According to data released by the United States Census Bureau, approximately 34.1% of households in the U.S. had an annual income of less than $35,000 in 2019. This highlights the demand within the U.S. market for higher value -for -moneycommunication devices. Having cultivated its presence in the U.S. market for seven years, Foxx has evolved into a reputable channel brand. Foxx will progressively introduce high -performance, cost -effectiveproducts to cater to the needs of American consumers, delivering ultimate value for their money. Internet of Things (“IoT”) technology enables interoperable information and advanced data services based on existing and evolving communication devices. IoT technology has numerous applications, ranging from gathering biometric data via wearable devices to controlling connected equipment via communication networks and cloud platforms. These devices have unique IP addresses that allow them to communicate and exchange information with other devices. The IoT market is projected to grow from $659.2 billion in 2019 to $1,112.6 billion by 2024 and $3,352.97 billion by 2030, at a CAGR of over 26.1%, according to IDC. ____________ Source: IDC Rising Demand for Efficient Connected Devices Platform to Drive Market Growth Integrated device platforms are crucial for data analytics and artificial intelligence. Rising demand for efficient platforms for downstream data servers and enterprise application connectivity is expected to drive the growth in network management, cloud platform and device management at the highest CAGR. Device -enablementplatforms have an especially strategic advantage of enabling related IoT growth and/or AIoT (Artificial Intelligence + IoT) growth while still in their own growth phase. Rising Demand for High-Quality Connected Devices and Services at Competitive Prices Industries such