TAIPEI--Foxconn Technology Group, the parent of Hon Hai Precision Industry Co. which counts Apple Inc. (AAPL) and Sony Corp. (6758.TO) as major customers, will spend 1 billion Brazilian reais (US$492 million) to build a fifth factory in Sao Paulo, Brazil.
Taipei-headquartered Foxconn said in a statement the new plant will produce smartphones, tablets and other electronic devices. It didn't elaborate.
The facility will start operations in 2014 and will reach full capacity in 2016, it said.
The new factory will employ 10,000 workers, the company added.
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