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Samsung expands production in South Korea

Miguel A. Rodriguez
Miguel A. Rodriguez
14 September 2020
The increase in demand made Samsung expands its production line.

Yesterday, Samsung declared it had started the construction of a domestic line for NAND flash memory chips in South Korea. The move comes after the demand for personal computers and servers increased since more people started working from home due to the pandemic. The chip exports from South Korea increased by 7.1% compared to the same time last year.

By the end of this year, the company wants to mass-produce the chips, and to fulfill the demand for 5G smartphones, regardless of the delays in Europe and several other countries.  

Experts say that the investment ranges around $5.7 billion. 

Moreover, Samsung plans to expand the Chinese Xi’an plant starting the first half of 2021.

The largest chipmaker in the world faces some competition from TSMC. Earlier this year, the company started a project in the U.S. to build a $12 billion chip factory in Phoenix. After the announcement, the stock price for TSMC went higher by 2.32%.

Samsung stock price gained 0.99% during yesterday’s trading session. 

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Miguel A. Rodriguez
Miguel A. Rodriguez

Miguel worked for major financial institutions such as Banco Santander, and Banco Central-Hispano. He is a published author of currency trading books.