Mar 11, 2010, 03.13 PM IST | Source: Reuters

RIM to produce smartphones in Brazil

Canada's Research in Motion will start producing BlackBerry smartphones in Brazil, targeting young people and first-time users of the more sophisticated mobile phones.

RIM to produce smartphones in Brazil

Canada's Research in Motion will start producing BlackBerry smartphones in Brazil, targeting young people and first-time users of the more sophisticated mobile phones in Latin America's largest economy, co-Chief Executive Jim Basillie told Reuters on Wednesday.

The company, based in Waterloo, Ontario, signed an accord with Singapore's Flextronics to manufacture the Curve 8520 model in Brazil, Basillie added.

The move comes as RIM pushes into the mainstream consumer market beyond its base of business and professional customers, who use the BlackBerry for secure wireless email service.

"It is extremely important for us to be here to manufacture locally and sell locally," Basillie said in an interview in Sao Paulo, where he is on a visit.

Mexico is the only country in Latin America where RIM currently makes phones. The company controls about 35% of the mobile phone device market in Latin America, he added, without disclosing numbers per country.

RIM may consider producing other models in Brazil in the future, Basillie added.

Shares of the company advanced 2% to C$77.04 in Toronto on Wednesday.

ADS BY GOOGLE

Buy & sell politicians on Power Play
- the political stock exchange

Price Update

Rahul Gandhi

570.54 7.41 1.32%

340799

Bought today

361318

Sold today

0.81%

User holding

video of the day

Add cyclicals, banks on positive poll outcome: UBS

Explore Moneycontrol

Copyright © e-Eighteen.com Ltd. All rights reserved. Reproduction of news articles, photos, videos or any other content in whole or in part in any form or medium without express written permission of moneycontrol.com is prohibited.