Samsung to invest $7 billion for chip plant

Samsung Electronics will set up its first chip plant in China, eventually worth $7 billion, the company said Monday. “Samsung’s board has finally given the green-light to initially invest $2.3 billion to build an advanced NAND flash chip line in Xian, Shannxi Province,” said spokesman Ken Noh.

NAND flash memories are being used in high-end devices such as smartphones and tablets. The demand for the chips is rising thanks to the powerful sales increase of the devices.

The world’s biggest memory chipmaker Samsung plans to start the operation of the new line from the latter half of next year after starting the process within this year Noh said, Monday. “This is the biggest investment plan that Samsung has ever invested to build up a chip line. The amount of the investment could shoot up to $7 billion as this is a multi-year project,” said the company spokesman.

For full article see Korea Times.