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Brazil To Earn $12 Billion From iPad 3 Investment

Brazil To Earn $12 Billion From iPad 3 Investment

Foxconn, Apple’s partner for manufacturing iPads & iPhones, is considering setting up a new facility in Brazil. The facility would focus primarily on iPads and would be worth an estimated $12 billion to the Brazilian economy.

Brazilian President Dilma Rousseff is said to be reviewing Foxconn’s proposal after a recent trip to China. If the deal can be finalized, we could see the manufacturing of iPads as soon as November in Brazil.

“They’re proposing a partnership. They came to us and said we want to invest in Brazil,” said Rousseff to reporters while in Beijing, where she is meeting Chinese President Hu Jintao.

Brazil, the World’s 8 largest economy, has excessive import tariffs that make gadgets such as the iPad luxury items for its burgeoning middle class. If Apple were to setup a manufacturing center in Brazil via Foxconn it could side step these taxes and be better positioned to sell to the 200 million strong Brazilian population and to other South American countries.

According to Retuers, the Brazilian government and Foxconn will soon discuss the possible facility locations, financing, taxes, broadband infrastructure and logistics in an effort to finalize the deal.

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