His two gold medals at the World Championships led Brazil to the best performance in the history of the competition.
He led Brazil with six goals during World Cup qualifying.
After his retirement as a player, he became a successful coach, leading Brazil to its second world title in Chile in 1962.
You should be a lawyer because they are the ones prepared to lead Brazil".
Schmidt led Brazil to a 130-108 victory over China.
Janeth Arcain led Brazil, the 1994 world champion, with 24 points.
In the other semifinal Norway led Brazil by 26.
Parreira was about to lead Brazil to its first World Cup final in 24 years.
Norway led Brazil by 10 at the start of the day and also held on to win by that slim margin.
"I don't think nobody can beat them," said Schmidt, who led Brazil with 21 points.
