South Korean handset manufacturer LG Electronics plans to invest S $58 million in the Brazilian market in 2005. Of the total, $18 million will go towards research and development activities for mobile telephony. About $40 million will be spent on expansion of its Taubate factory located in Sao Paulo. With the expansion, the Taubate plant will be capable of producing around 6.5 million phones a year. LG Brazil expects to sell 6 million units in 2005.
