• search

Samsung Elec to invest $1.15 bn on memory lines

Written by: Staff

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.


For Daily Alerts

For Breaking News from Oneindia
Get instant news updates throughout the day.

Notification Settings X
Time Settings
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Oneindia sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Oneindia website. However, you can change your cookie settings at any time. Learn more