Samsung to invest an extra $8 billion in China chip plant – media



By Hyunjoo Jin and Josh HORWITZ

SHANGHAI (Reuters) – Samsung Electronics (LON:) will increase investment at its chip factory in China by $8 billion (6.24 billion pounds) to boost production of NAND flash memory chips, Chinese media reported on Tuesday.

The South Korean group’s investment comes as the memory market is expected to rebound next year because of limited supplies and rising demand for fifth-generation devices and networks.

Samsung is the world’s largest maker of NAND flash memory chips, which can hold data permanently and are found in mobile devices, memory cards, USB flash drives and solid-state drives.

In 2017, Samsung announced that it would invest $7 billion over three years in its Xi’an plant that produces NAND flash memory chips.

Those investment phases follow an earlier $10.8 billion investment into a testing and packaging plant in Xi’an.

Samsung declined to comment.

Samsung’s rivals in NAND flash memory include Korea’s SK Hynix (KS:), U.S.-based Micron Technology Inc (O:), and Toshiba Corp (T:)

Several Chinese companies have attempted to enter the memory sector, though none has been successful enough to compete with overseas rivals.

This past autumn, Yangtze Memory Technologies Company (YMTC) announced it would begin mass producing 64-layer 3D NAND chips, the benchmark for most leading industry players.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

READ  Pinterest pins hopes on cut-price IPO as latest tech 'unicorn' goes public

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.





READ SOURCE

LEAVE A REPLY

Please enter your comment!
Please enter your name here