Samsung Electronics Co Ltd said Tuesday it plans to invest more than 1,000 million dollars at the end of June 2017 to boost chip production system at its facility in Austin, Texas, in the United States to meet growing demand.
The South Korean company, the world's second largest chipmaker behind Intel Corp., said in a statement that its investment would increase the production of chips for mobile devices and other electronic devices from their existing facilities in the city.
The investment comes after Samsung announced last week that its capital expenditures for 2016 amount to a record 27 trillion won ($ 24.000 billion), with 13.2 trillion won for its semiconductor business.
While most of the benefits of semiconductors Samsung comes from sales of memory chips, has been trying to boost earnings of other products, including its own mobile processors Exynos and manufacturing contracts with customers such as Qualcomm Inc and Nvidia Corp. Samsung did not elaborate plans for investment in Austin, such as how much production capacity would be added.
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