The Brazilian arm of South Korea-based LG Electronics Inc. said that it expects mobile telephone sales to grow 200 percent in 2005, helped by additional output from its new U.S. $60 million factory.
The new facility, located in Sao Paulo, will produce 6.5 million mobile phones per year and help turn Brazil into LG's base for exports to the rest of Latin America, said Dilson Suplicy Funaro, LG Electronics do Brazil's institutional director.
About 20 percent of LG's mobile phone output in Brazil will be exported to South America, especially Argentina, Peru, and Chile.
The Brazilian unit also produces DVD players, plasma screen televisions, computer monitors, and air-conditioners in Brazil. It expects total sales of more than $1.3 billion in 2005, up from $830 million last year, Mr. Funaro said. (Reuters)
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