Sony to plough cash into Brazilian mobile market

The company is planning to invest $83m in developing its presence in the country in 2015

Sony Mobile is set to invest R$250m ($83m) towards its expansion in the Brazilian market this year despite the country's current economic instability.

The mobile phone maker is confident about its performance in Brazil and expects smartphones sales to go up by 50 to 60 percent in 2015 even in challenging market conditions. The company has already seen a 70 percent uplift in sales in Brazil during 2014 in relation to the prior year.

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"Smartphones are still sought after and despite the slowdown and unemployment levels are still low," Sony Mobile Brazil president Ricardo Junqueira told Reuters.

The investment will go towards marketing, as well as product development and dedicated stores to add to the 13 existing Sony Mobile outlets in the country.

The company wants to focus on devices of a higher price tag and grab the third position in terms of market share behind Apple and Samsung.

According to IDC figures, smartphone sales in Brazil have gone up by 49 percent between July and September last year in comparison to the same period in 2013, with 15,1 million units sold.