10/28/16

Samsung to invest record W27tr in chips, displays

Samsung Electronics said on Oct. 27 it will make a record 27 trillion won (US$24 billion) investment in production facilities for semiconductors and displays this year.

The company said 13.2 trillion won will be poured to beef up the production of V-NAND flash memory chips that are used for large-scale data centers and business servers and to upgrade other production facilities overall.

Another 10.9 trillion won will be used for the production expansion of flexible organic light-emitting diode displays whose demand is soaring recently as more handset makers, including Apple, are bracing for the adoption for their next high-end models.

On the day, the company reported its third-quarter operating profit tumbled 29.7 percent to 5.2 trillion won from a year ago, hit hard by the discontinued Galaxy Note 7 for safety concerns. Revenue also fell 7.4 percent to 47.8 trillion won.

http://www.koreaherald.com/

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