Samsung to unveil chip spending plan Monday
Samsung Electronics, the world’s largest memory chip maker, plans to unveil on Monday a much-awaited semiconductor investment plan, a source said, joining a growing list of firms raising spending on global economic recovery. Market speculation on the size of the investment has grown since the South Korean firm said two weeks ago that it would sharply raise capital spending this year, with some media reports penciling in a record 20 trillion won ($17.7 billion).
Samsung declined to comment but said it would hold a ceremony on Monday to start building a new chip plant, which would mark the first construction of its kind in at least four years, after shunning expansion due to the industry’s worst ever downturn. As the chip sector recovers, spurred by stronger than expected demand from China and booming sales of memory heavy devices such as smartphones and tablet PCs, companies are gearing up to increase investment, threatening to derail the rebound.
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