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Samsung to invest $1 billion in US chip production
After already announcing a $24 billion investment into semiconductors and display technology this year, Samsung has just unveiled plans for a further $1 billion cash injection into chip production in the United States.
The money will be used to invest in enhanced production capabilities at Samsung Austin Semiconductor in Texas. Specifically, Samsung will be enhancing its current System LSI (large scale integration) production facilities, which are used to build integrated circuits. The company intends to use this improve production line to cater for growing demand for advanced system-on-chip parts, including those used in mobile products.
This investment comes less than a week after Samsung announced a new record 27 trillion won (approximately 24 billion US dollars) investment into V-NAND flash memory chips and flexible OLED displays, which are again essential components for mobile products. Samsung is spending more than twice the sum it did last year on flexible OLED alone, suggesting much more to come in the form of curved edge and possibly other shaped displays.
For the Texas economy, this latest announcement is, of course, great news also. The press release states that Samsung Austin Semiconductor supports around 10.755 jobs in the area and pays out around $498 million in annual salaries. A $1 billion investment suggests that Samsung will be sticking around in Texas for a while longer.