Tuesday, April 12, 2011

Foxconn Confirms Move To Brazil ($12 Billion)

Reuters gave our earlier report that the iPad production would be moving to Brazil some credibility by pointing out that Foxconn is planning to invest $12 billion in manufacturing facilities in Brazil.

"You’ve got an ample range of investments that go from $300 to $400 million to $12 billion over 5 to 6 years in the case of Foxconn,” Rousseff to Reuters. “They’re proposing a partnership. They came to us and said we want to invest in Brazil.”

Rumors that Foxconn may move operations to build Apple products near São Paulo, Brazil leaked three weeks ago. Foxconn could start building Apple’s iPad in Brazil by the end of November according to Aloizio Mercadente, Brazil’s Science and Technology Minister.

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