NEC sets 30 percent Brazil sales increase in preparation for World Cup, Olympics

NEC (OTC: NIPNF.PK) sees a great opportunity to boost its Brazil sales as the country gets ready to host both the World Cup and the Olympics. This year, the telecom vendor said it plans to increase Brazil sales by 30 percent, aiming to reach $325 million.

Herberto Yamamuro, chief executive officer of NEC's Brazilian unit in Sao Paulo, told Bloomberg that "Our new development area will focus in providing for the basic infrastructure sector in the country, both public and private."

NEC has forecast Brazil and China to be two of its regional growth engines. What's got NEC excited about Brazil is the increase in personal income and the buildout of network infrastructure to support the 2014 World Cup and the 2016 Olympics.

However, NEC's ambitious growth plans won't be easy to fulfill.

"The biggest bottleneck today is the lack of the labor force, qualified and unqualified," said Yamamuro. "Salaries are high and there's a deficit of people in the market."

For more:
- Bloomberg has this article

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