SoftBank launches robot venture with Alibaba, Foxconn

Tokyo: Japan`s SoftBank Corp said on Thursday that it was setting up a joint venture with Alibaba and Foxconn Technology to sell its human-like robot Pepper to consumers around the world.

The robots - which the mobile phone and Internet conglomerate envisions serving as baby-sitters, medical workers or even party companions - are already being used at stores including SoftBank`s own mobile phone shops, but the companies said they would now be available to general consumers.

SoftBank said it would have a 60 percent stake in the joint venture, with Alibaba and Foxconn holding 20 percent each.