Foxconn To Invest $12 Billion In Brazil, Begin iPad Production In November

According to Reuters, Foxconn is considering investing up to $12 billion in manufacturing facilities to start producing monitors and displays for mobile devices, such as iPhone and iPad, in Brazil. At that moment, the Brazilian government is studying Foxconn's investment plan. Brazilian minister of Science and Technology Mercadante has been negotiating with Foxconn for more than three months to convince the company to invest $12 billion throughout the next 5 years. Не also reported that Foxconn is preparing to begin manufacturing the iPad in Brazil by the end of November. The project would involve the recruitment of 100,000 new employees (including 20,000 engineers) as Foxconn already has three factories in Brazil to assemble products for Sony, Dell, and HP.