Taiwan-based manufacturer Foxconn Technology Group plans to make computer tablets in Brazil after the government granted the company tax incentives, officials said.
Foxconn, a leading manufacturer of computer components that sells to companies like Apple, Sony, Cisco and Nokia, "will receive a reduction of 95 percent" in its tax on industrialized products until 2014, according to Brazil's Ministry of Development, Industry and Trade.
In return, Foxconn agreed to invest four percent of its after-tax income in research and development, the ministry statement added. Foxconn has operated in Brazil since 2003.
"In addition to generating jobs and investment, the manufacture of tablets in Brazil will lower the price of the products," Development Minister Fernando Pimentel said Wednesday.
In April 2010, Foxconn announced its interest in investing about $12 billion over five to six years in its four factories in Brazil to expand its mobile phone and information technology production.
Explore further: Struggling BlackBerry announces new round of layoffs