Samsung plans to invest $14.7 billion on a new semiconductor plant in South Korea

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Last updated: October 6th, 2014 at 15:22 UTC+01:00

Samsung has confirmed that it is planning to invest 15.6 trillion Korean Won (about $14.7 billion) on a new semiconductor plant in South Korea. It has been confirmed by Samsung that the plant will be situated in Godeok Industrial Complex in Pyeongtaek and its construction will start in the first half of 2015. The new plant will provide jobs to over 150,000 people and will be operational in the second half of 2017. Samsung is yet to provide any details about the exact products which will be fabricated at this facility, though they promise that it will help them in meeting “…growing demand for advanced semiconductor products.

Samsung’s revenue through its mobile division is diminishing due to increased competition from Apple in the high-end category and from Chinese brands in the entry-level smartphone market. Two weeks ago, its share price dropped to a 2-year low as profit estimates declined. This is why Samsung is investing on manufacturing semiconductor chips, a business unit which has been experiencing consistent growth. Last week, Samsung announced that it is expecting improved profits due to its deal with Apple to provide next generation processing chips based on 14nm technology. Last quarter, Samsung had announced that it would set up a $1 billion display manufacturing plant in Vietnam.

Via | Source

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