Samsung Elec to invest $1.15 bn on memory lines
Seoul, Mar 13: Samsung Electronics Co. Ltd., the world's largest memory chip maker, said on Monday it would invest 1.13 trillion won ($1.15 billion) to expand and upgrade its memory chip lines.
The South Korean firm said in a filing to the Korea Exchange that it would fund the investment with its own capital.
The company announced a 730 billion won investment to improve its line of dynamic random access memory (DRAM) and flash chips, along with a separate 398 billion won investment to upgrade a DRAM production line. The money is to be spent on the company's Kiheung and Hwasung memory plants.
Samsung said the investments were aimed at boosting capacity and improving profitability in the face of growing market demand.
The investments are part of an annual investment plan unveiled earlier.
Shares in Samsung, South Korea's biggest company with a $103 billion market capitalisation, rose 1.94 per cent to end at 632,000 won, compared with the overall market's decline of 1.38 per cent.