Foxconn plans Brazilian move, $12 billion investment

Reports predict that Foxconn Technology Group would invest as much as $12 billion over the next five years to commence operations in Brazil. Foxconn is the world's largest contract manufacturer of electronics products.

The Taiwanese company, which has most of its operations in mainland China and makes the iPhone and iPad for Apple, is in talks with the government of Brazil, the reports said.

The headline figure comes from Brazilian president Dilma Rousseff, speaking while on a visit to Beijing, China. "You've got an ample range of investments that go from $300 million to $400 million to $12 billion over 5 to 6 years in the case of Foxconn," the BBC quoted Rousseff as saying.

Foxconn is open to moving out from China as rising labor costs there have started to impact its profitability in recent quarters.

- Peter Clarke
??EE Times