The best Samsung deals! Galaxy Book 4 series, Watch 6, S24 Ultra or Z Flip 5! - Join SamMobile on Telegram!

SamMobile has affiliate and sponsored partnerships. If you buy something through one of these links, we may earn a commission.

Notifications
    News for you

    Samsung denies report about investment in its NAND plant in China

    Business
    By 

    Last updated: May 20th, 2019 at 15:38 UTC+02:00

    Quoting Samsung vice president Ji Hyun-ki, China’s official Xinhua news agency reported on Friday that the Korean company would invest more than $14 billion in its NAND plant in Xian, China. Samsung has, however, denied this report in a statement to Reuters. The Korean tech giant is not outright rejecting the possibility of any investment but is saying no decision has been made yet.

    “The second-phase amount of investment in the second production line has not been decided and will depend on market conditions,” Samsung told Reuters in a statement. It is not immediately clear if the Xinhua report misquoted Ji Hyun-ki or that Samsung is backtracking on his comments.

    Samsung had announced in 2017 that it would invest around $7 billion over the next three years in its Xian NAND plant. However, a lot has changed in the chip market since then, making Samsung and other chipmakers rethink their capital investments.

    Samsung’s semiconductor business has generated record revenues for many consecutive quarters, riding on strong demand and high prices for its NAND chips. The boom seems to have finally come to an end with both demand and prices falling swiftly, forcing chipmakers to question the viability of large-scale capital investments in the industry. Samsung’s dilemma over investment in its Chinese NAND plant can be seen as part of the same phenomenon.

    Business China

    You might also like

    Samsung isn’t selling old chip-making equipment fearing US sanctions

    Samsung isn’t selling old chip-making equipment fearing US sanctions

    Samsung Foundry is among the world's biggest semiconductor chip makers. It frequently upgrades to newer and more advanced chip-making equipment. Usually, the companies making chips sell older equipment once they are phased out from their lineups, but Samsung and SK Hynix have stopped selling their older equipment, fearing backlash from the US. Older chip-making equipment […]

    • By Asif Iqbal Shaik
    • 2 weeks ago
    Fear of China’s OLED gains sparked Samsung and LG’s budding romance

    Fear of China’s OLED gains sparked Samsung and LG’s budding romance

    Samsung and LG are both major Korean conglomerates that also compete against each other in various industries, such as component manufacturing, electronics, and home appliances. LG used to make phones back in the day as well but has since given up on that business. Samsung Display and LG Display are the leading South Korean display […]

    • By Adnan Farooqui
    • 1 month ago
    China may have forced Apple’s hand on RCS support for iPhones

    China may have forced Apple’s hand on RCS support for iPhones

    Samsung and Google have long called upon Apple to support the RCS standard for text messages on the iPhone, but Apple being Apple was playing hard to get for the longest time. The company unexpectedly announced in November last year that it will add RCS support to iPhones starting in 2024. Many felt that this […]

    • By Adnan Farooqui
    • 1 month ago
    Baidu AI is holding the Samsung Galaxy S24 series back in China

    Baidu AI is holding the Samsung Galaxy S24 series back in China

    As you may know, Samsung uses Google to power most new Galaxy S24 AI tools in most markets. Not so in China, where many Google services are banned or limited. To work around these issues, Samsung partnered with China's Baidu to power the Galaxy S24's AI features in the country. And according to early Galaxy […]

    • By Mihai Matei
    • 2 months ago
    Huawei is readying a new foldable phone for a February release

    Huawei is readying a new foldable phone for a February release

    Although Samsung is the leader in foldable phones globally, the company doesn't have as much pull in China, where customers prefer local brands. Huawei manufactures some of the most popular foldable phones in China, and according to new reports, the company is preparing to announce a new foldable device next month. A Huawei insider on […]

    • By Mihai Matei
    • 2 months ago
    Galaxy S24 to get Baidu AI chatbot integration in China

    Galaxy S24 to get Baidu AI chatbot integration in China

    The Galaxy S24 is Samsung's first AI phone, and it comes with the Galaxy AI suite. It comes with several AI-powered features, including one that can translate languages in real time during voice calls and messages. In China, the Galaxy S24 will use Baidu's Ernie AI chatbot for real-time language translation and other features. Galaxy […]

    • By Asif Iqbal Shaik
    • 2 months ago