Samsung Making a Move into Semiconductors with USD$ 15 billion plant
It has been confirmed by Samsung that it is going to invest 15.6 trillion Korean Won (USD$14.7 billion) into a new semiconductor plant in its home country, South Korean. The plant is to be situated in Godeok Industrial Complex in Pyeongtaek. Construction of the plant is to begin in the first half of next year and will provide an estimated 150,000 individuals with jobs. Operations on the site should begin in the second half of 2017. We’re not quite sure what products will be manufactured at the facility but it is promised by Samsung that the plant will help meet “…growing demand for advanced semiconductor products.”
Samsung has reported to be suffering in revenue in its mobile division due to the on-going competition from Apple as well as Chinese brands such as Xiaomi. Its shares were reported to have dropped to a low that has yet to seen for the past two years. This may be the reason why Samsung has made the move to invest instead in producing semiconductor chips, a business unit which has been experiencing consistent growth. This report on constructing a new plant in South Korea comes after the news that Samsung has announced it will be setting up a USD$1 billion display manufacturing plant in Vietnam.
Source: Android Authority