$6.4M robbed from Samsung Factory in Brazil

|About: Samsung Electronics Co., Ltd. (SSNLF)|By:, SA News Editor

A Samsung Electronics (SSNLF) factory in Brazil was robbed yesterday, after 20 thieves stole $6.4M of cellphones, tablets and other products. The company is hoping that insurance will minimize the cost incurred from the stolen inventory.

The heist is also a setback for Brazil, which has been trying for years to draw more electronics makers to do business in the country. Besides for the high employment costs and taxes in Brazil, added security concerns can now have some manufacturers thinking twice.