Samsung To Invest $116 Bn To Augment Chip Business

Samsung Electronics has announced that it will pump in 133 Korean Trillion, equivalent to $116 billion, till 2030 to ramp up its chip business. Doing so, the Korean major also hints out its long term plan to take on near rivals like Qualcomm and Intel.

The firm said the investment will strengthen its competitiveness in System LSI and Foundry businesses.

The investment plan is expected to help the company to reach its goal of becoming the world leader in not only memory semiconductors but also logic chips by 2030. At present, Samsung is the world’s largest memory chip maker.

The company also plans to create 15,000 jobs in R&D and production to bolster its technological prowess.

The investments through 2030 will be composed of KRW 73 trillion for domestic R&D and KRW 60 trillion for production infrastructure.

As per the company’s plan, investments in R&D and facilities for logic semiconductors are expected to amount to an average KRW 11 trillion per year until 2030, the company said in a statement.

This development came at a time when the firm is getting all the bad press for its highly ambitious foldable smartphone – the Samsung Galaxy Fold. The phone was supposed to be launched in the U.S on 26 April but the event has been postponed indefinitely after widespread reports emerged that the display screen of the Galaxy Fold is very fragile and reportedly got broken during use.

Some users also have reported that the phone stopped working after initial two days of testing.

Samsung had handed out some sample units of Galaxy Fold to tech journalists in the U.S prior to the launch event. The company had also opened its pre-booking for the phone which was completely sold out within no time. However, now, after the issues with the Fold emerged, the company has postponed the shipment of the device and suggested the customers to wait two weeks till next announcement on the same.

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