Business

Samsung has a solution to tackle the global chip shortage

The impact of the global chip shortage has been felt across all industries that rely on semiconductors. From cars to TVs, manufacturers are struggling to secure adequate supplies in order to meet the demand for their products.

As one of the world’s leading semiconductor manufacturers, Samsung has a role to play in order to curb the shortage. The company has already been pouring investments in the sector and it now wants to speed up the launch of its new manufacturing facility.

Samsung wants to bring its P3 factory online sooner

Samsung’s plans to build the “P3” semiconductor factory, its third in the Gyeonggi Province, were unveiled last year. It was meant to be a total semiconductor factory with the capacity to produce DRAM, NAND flash, image sensors and application processors.

Reports suggest that Samsung now wants the P3 plant to start production earlier than initially planned. It was previously slated to go online in the first half of 2023. If the company to expedite matters, industry watchers estimate that the plant could become operational either in early 2023 or even by the end of 2022.

Some important details about the plant still remain unknown. It’s unclear how much Samsung is planning to spend on the new facility. The new plant’s production capacity also remains unknown. Samsung was expected to reveal its spending plan for the P3 facility this year. However, that has been delayed to the imprisonment of vice chairman Lee Jae-yong.

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