Apple

Apple's investment and faith in Brazil continues to grow by the month.

On the heels of reports that Apple reportedly now considers Brazil to be among the top emerging markets (like China) ripe for iDevice consumer adoption, today comes word that Apple's manufacturing partner Foxconn is ramping up production efforts in Brazil to a whole new extent.

According to Julio Semeghini, São Paulo's Secretary of Planning and Development of the State, Foxconn is now in the planning stages of building five more production plants in Brazil almost exclusively for the purpose of keeping pace with production demand for iPhones and iPads.

Estimates out of Brazil suggest that the five factories in question will have a cumulative capacity to crank out 400 million units annually by 2017. It was not stated Tuesday as to whether or not the current Foxconn plant in Brazil (which supposedly produces iPads and iPhones already) will continue to chiefly focus on the production of Apple products in the future.

During Apple's January 24th earnings call, CEO Tim Cook expressed his interest in Brazil as a major future market for Apple but stopped short of predicting that Apple will soon boast a retail presence in the country.

Source: Fox Business