Samsung investing $14.7 billion in new chip fabrication facility

Samsung Electronics is investing 15.6 trillion Korean won ($14.7 billion) in a new chip plant in South Korea to meet growing demand from smartphones, enterprise computing and the emerging 'Internet of Things' market. Construction of the fab in a 790,000 square meter site in Godeok Industrial Complex in Pyeongtaek will begin during the first half of next year, with operations scheduled to begin sometime during the second half of 2017, Samsung said Monday. Samsung, which is providing its third-quarter earnings guidance Tuesday, said in July its second-quarter profit fell nearly 20 percent year-on-year as a result of price competition in mid and low-end phones from Chinese manufacturers and sluggish demand in Europe. To read this article in full or to leave a comment, please click here