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Article: Brazil: Korean companies announce investments in Brazil.
- Article from:
- South American Business Information
- Article date:
- November 18, 2004
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Brazil, Nov 18, 2004 (O Estado de Sao Paulo/SABI via COMTEX)
The battle among the Korean electrical and electronic manufacturers (TV sets, cell phones, audio system and videotape recorders) set up in Brazil promises to be tough. LG announces, today, ain invesment of US$50mil to expand production capacity of the cell phones plant in Taubate (Sao Paulo). The unit currently produces 2.4mil phones per, to hit 4.05mil units in 2005 and 6.5mil by 2006. The plant also manufactures monitors. In 2003, the Brazilian subsidiary of LG turned over US$600mil. Samsung does not disclose the amount to be invested in Brazil but reveals its goal of conquering 20% share of the TV ...