Foxconn's investments in Brazil started in 2002 when the company acquired Finland-based Eimo Oyj and its production lines in Manaus, Brazil. As labor costs in China continue to rise, Foxconn has been seeking new production bases, and Brazil's rich labor resources and potential domestic demand have already become major attractions for Foxconn investment.
During the Lunar New Year, Brazil announced that the products manufactured by Foxconn will receive tax relief of 95% until 2014 and Foxconn has also agreed to use 4% of its net profits to invest in R&D in return.