Samsung to put $19 bn in chips, display plants
Samsung Electronics said on Tuesday it will invest 21.4 trillion won ($19 billion) in the next four years in its memory chip and display plants in South Korea.
The South Korean company's announcement comes as the global memory chip industry enjoys a massive boom thanks to a surge in demand for microchips.
Global tech companies have been increasing servers and data centers to handle more data from mobile devices and auto vehicles and also on expectations that adoption of artificial intelligence would create even more demand for handling data.
Samsung said by 2021, it will spend an additional 14.4 trillion won ($12.5 billion) to increase the capacity in its memory chip factory in Pyeongtaek, south of Seoul, which began operating in the day.