Foxconn says looking at investment opportunities in Brazil

MSNBC/Reuters, 04/13/2011

Foxconn workers walk on a footbridge outside a Foxconn factory building in the township of Longhua, in southern Guangdong province June 2, 2010. REUTERS/Bobby Yip

Foxconn Technology Group, maker of Apple Inc’s iPhone and iPad, said it is looking at investment opportunities in Brazil in line with its strategy of “being where the market is,” a plan that would boost its presence in a fast-growing market for electronic devices.

Foxconn announced the decision in a statement on Wednesday from Taiwan-listed unit Hon Hai Precision Industry Co Ltd, a day after Brazilian President Dilma Rousseff said the company was considering investing $12 billion in Brazil.

The statement did not give specific details, noting only that Brazil had “tremendous economic development potential” and was “strategically positioned to meet the needs of growing markets throughout Latin America.”

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