WorldWide Tech & Science. Francisco De Jesús.
Foxconn Electronics (Hon Hai Precision Industry) has finished preparations at its assembly lines for smartphones and tablet PCs in Brazil and is ready to kick off production.
Foxconn's investments in Brazil started in 2002 when the company acquired Finland-based Eimo Oyj and its production lines in Manaus, Brazil.
As labor costs in China continue to rise, Foxconn has been seeking new production bases, and Brazil's rich labor resources and potential domestic demand have already become major attractions for Foxconn investment.
During the Lunar New Year, Brazil announced that the products manufactured by Foxconn will receive tax relief of 95% until 2014 and Foxconn has also agreed to use 4% of its net profits to invest in R&D in return.
As for rumors that Foxconn may establish panel plants in Brazil.
Commenting about its investment in Brazil, Foxconn pointed out that the company is following its plans and will make official announcements about investments when needed.
Are we going to see Brazil made iphones and ipads only.?