Seoul: Samsung Electronics Co. wants approval to set up a new NAND flash memory chip plant in China to help meet the surge in demand for hand-held devices such as smartphones and tablet computers.
The company said in a statement on Tuesday that it aims to start the construction of the new plant next year and for it to start operations in 2013, which likely to cost around $4bn.
“We have submitted an application to the Ministry of Knowledge Economy for an establishment of a chip production line in China,” Samsung said in a statement
“[The factory] will enable us to meet fast growing demand from our customers and at the same time strengthen our overall competitiveness in the memory industry,” Jun Dong-Soo, president of Samsung’s memory business.
Samsung is throwing a lot of investment into its chip business, particularly those for mobile devices, as the market for smartphones and tablest continues to grow.
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