Sao Paulo, Brazil, 3 Nov – Sangfei, the Shenzhen-based company of the China Electronics Corporation (CEC) plans to invest US$50 million in its factory in Manaus in the Brazilian state of Amazonas under the terms of an agreement signed Monday in Sao Paulo.
The Chinese company, which since 2007 has manufactured the mobile phones of Dutch company Philips, will start to manufacture them in Manaus as of 2012, and expects to produce 3 million units over the next two years.
According to the Brazilian press, the agreement between Sangfei and Philips was one of five projects signed Monday, all of which involved Chinese mobile telephony manufacturers and Brazilian technology companies.
The Chinese mission, led by the mayor of Shenzhen, Xu Qin, took part in a meeting with over 200 Brazilian businesspeople during which representatives of the city presented investment opportunities in the technology sector in China.
The agreements totalled US$540 million and were signed during an event to promote cooperation between the cities of Sao Paulo and Shenzhen, which is one of the main industrial and technological centres of china, next to the special administrative region of Hong Kong.
The other projects involved sales and distribution services, and Huawei signed two contracts with Brazilian companies – one with AXT worth US$80 million and another with Nisalux worth US$40 million, with the aim of getting products such as tablet pcs and smartphones closer to end users.
Huawei produces just one smartphone in Campinas, Sao Paulo, but plans in the second half of 2012 to start manufacturing other models, as well as its first tablet computer. (macauhub)