Foxconn is ready to kick off production of smartphones and tablets in a new plant in Manuas, Brazil.

The company first started eyeing Brazil in 2002 and it is hoped the investments will help keep costs down, as labor costs in China are on the rise. Brazil is slowly emerging as a major economic power on the world stage and it also represents a rather interesting consumer market in the long run.

Some rumours that Foxconn could also set up panel plants in Brazil have not been confirmed. Digitimes claims the company has yet to make a firm decision.

More here.