Samsung sets aside $18bn for chip production

Image
Samsung sets aside $18bn for chip production
Body

The biggest contributor to Samsung's business is its chip business, though it is known by many for its smartphones and TV. They make these chips and supply them to producers of mobile phones, computers and many other devices that make use of chips.

Samsung sets aside $18bn for chip production

The sum of 20.4trn won ($18bn) was announced by the world’s biggest maker of memory chips, to be used in new investments to expand semiconductor output in South Korea.

In a statement made on Tuesday, the company said that the total investment that will be made in the facility will rise to 30trn won by the year 2021; after 15.6trn won has been spent on its Pyeongtaek plant south of Seoul.

6trn won will also be committed by the Suwon-based company for the expansion of production in Hwaseong. By 2018, the company is considering a new display manufacturing site for organic light-emitting diodes, and a second production line at Xi’an in China.

Just after breaking grounds on the Pyeongtaek facility, the spending plans was announced by Samsung as it commenced mass production of chips from the plant.

Also Read: Samsung Makes New Phone With Galaxy Note 7 Parts

The capacity to cater to an expected surge in demand from Internet of Things, artificial intelligence and automotive technologies is being built by the company.

The biggest contributor to Samsung's business is its chip business, though it is known by many for its smartphones and TV. They make these chips and supply them to producers of mobile phones, computers and many other devices that makes use of chip.

A report that 46.5% of operating income at the company was being generated by semiconductors, was made by Bloomberg in 2016.

Category

Also Read