Samsung Electronics said it would use Brazil as a hub for its South American sales network for home appliances, DVD players, and laser printers. The company said it would expand its two plants in Brazil to develop, produce, and sell products for the domestic Brazilian market.
"We will build a new production line in Brazil for home appliances, DVD players, and laser printers," Samsung Electronics vice chairman Yun Jong-Yong said, according to Agence France-Presse. "Brazil has an enormous market."
Samsung hopes to increase its sales in Brazil from U.S. $600 million last year to $1 billion this year. Cellular phones accounted for 53 percent of Samsung's 2004 sales in Brazil. (AFX)
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