Taiwan's Hon Hai assessing investment in Brazil
Taiwan's Hon Hai Technology Group, a main manufacturer of Apple Inc.'s iPhones and iPads, says it is assessing an investment in Brazil, an increasingly important market for new electronic gadgets.
In a late Wednesday statement Hon Hai, the parent company of Foxconn, says that "we follow a globalization strategy of going where the market is."
Earlier in the day, Brazilian Science and Technology Minister Aloizio Mercadante said that Apple and Foxconn will start production of iPads in the South American country by the end of November.
Foxconn currently has large-scale Chinese assembly operations where it makes products for Apple and other global companies.
Taiwanese media say Hon Hai's Brazilian investment could top $12 billion in five years.