Anthropic Raises 2026 Revenue Outlook by 20% but Delays Path to Profitability 
Samsung Electronics Posts Record Q4 2025 Profit as AI Chip Demand Soars 
ASML’s EUV Lithography Machines Power Europe’s Most Valuable Tech Company 
RBA Expected to Raise Interest Rates by 25 Basis Points in February, ANZ Forecast Says 
U.S. Stock Index Futures Steady as Fed Decision and Big Tech Earnings Loom 
Thailand Economy Forecast Holds Steady as Exports, Tourism Face Global Pressures 
Australia Inflation Surprise Fuels Rate Hike Expectations Ahead of RBA Meeting 
U.S. Stock Futures Edge Lower as Tech Earnings and Fed Decision Shape Market Sentiment 
BYD and Exxon Mobil Strengthen Hybrid Technology Partnership 
Microsoft AI Spending Surge Sparks Investor Jitters Despite Solid Azure Growth 
Ford and GM Near Financing Deal to Support First Brands Group During Bankruptcy 
Volkswagen CEO Oliver Blume Faces Crucial Year as Investors Demand Turnaround Results 
Bank of England Expected to Hold Interest Rates at 3.75% as Inflation Remains Elevated 
Indonesian Stocks Slide After MSCI Flags Investability Risks and Downgrade Threat 
Asia Stocks Pause as Tech Earnings, Fed Signals, and Dollar Weakness Drive Markets 
Australia Wine Exports Fall in 2025 as Global Drinking Declines and China Demand Weakens 
Sam Altman Criticizes ICE Enforcement as Corporate Leaders Call for De-Escalation 
LG Electronics has started works to convert its smartphone production facilities overseas to home appliances manufacturing factories. The move was revealed on Tuesday, June 1, and it was shared by sources in the industry.
As per Yonhap News Agency, LG Electronics stated that the government of Brazil approved the South Korean company’s proposal to expand its Manaus plant in Amazonas, which is located in the northwestern part of the country. This is part of the steps that LG is taking to shift its production lines from Taubate that sits on the east coast.
LG’s plan for the Brazil facility
It was disclosed that once LG Electronics finally completed this $62 million project, it will start the production of laptops and computer monitors at the Manaus facility. The company said that it will gradually be consolidating all of its Brazilian manufacturing operations in Manaus.
This particular plant in Brazil was established in 1995, and it was originally meant for the production of home appliances, including televisions, DVD players, microwave ovens, and air conditioners that were added in 2001. On the other hand, LG’s Taubate plant was operating solely for the manufacturing of mobile phones, laptops, and monitors since 2005.
Now, these two facilities will be combined, and the production will center on home appliances minus the smartphones that LG Electronics already gave up in April. This is the second mobile phone facility to be converted to a home appliances plant. The first site to be converted was the Vietnamese plant in Haiphong.
LG’s departure from the phone business
LG is eliminating its mobile phone facilities since it has already officially withdrawn from the smartphone business. This unit from the range of LG’s businesses will only be in operation until July 31 since it was only losing money as its performance continues to decline in recent years.
The company made the announcement in April and confirmed it will be closing down all of its mobile phone business worldwide. At that time, the electronics company stated, “LG’s strategic decision to exit the incredibly competitive mobile phone sector will enable the company to focus resources in growth areas such as electric vehicle components, connected devices, smart homes, robotics, artificial intelligence and business-to-business solutions, as well as platforms and services.”
