Samsung throws more cash into Kunshan plant

Stefan Mileschin · 29th January 2013, 06:53

Samsung is planning splashing cash on expanding its presence in Kunshan, China.

According to a report by Xinhua news, the company will spend around $1.7 billion at the plant in east China's Jiangsu Province over the next five years.

Samsung can afford it. Last week the company announced that in the final quarter of 2012, it hit £4.1 billion in net profit.

The cash injection is in addition to the estimated $81 million, which the company threw at the plant during 2008, when it was initially set up, through to the end of 2012.

The new investment is said to focus on gaining new business in the competitive smartphone area as well as help Samsung build on its chip business. The company will use the money to build workshops, purchase equipment and set up research institutes within the plant.

Samsung is already busy building a $7 billion chip factory in Xi'an, northwestern China.

http://news.techeye.net/business/sam...-kunshan-plant

29th January 2013, 06:53	#1
Stefan Mileschin [M] Reviewer Join Date: May 2010 Location: Romania Posts: 148,462	Samsung throws more cash into Kunshan plant Samsung is planning splashing cash on expanding its presence in Kunshan, China. According to a report by Xinhua news, the company will spend around $1.7 billion at the plant in east China's Jiangsu Province over the next five years. Samsung can afford it. Last week the company announced that in the final quarter of 2012, it hit £4.1 billion in net profit. The cash injection is in addition to the estimated $81 million, which the company threw at the plant during 2008, when it was initially set up, through to the end of 2012. The new investment is said to focus on gaining new business in the competitive smartphone area as well as help Samsung build on its chip business. The company will use the money to build workshops, purchase equipment and set up research institutes within the plant. Samsung is already busy building a $7 billion chip factory in Xi'an, northwestern China. http://news.techeye.net/business/sam...-kunshan-plant

Similar Threads
Thread	Thread Starter	Forum	Replies	Last Post
Samsung plant guilty of exposing female worker to carcinogens	Stefan Mileschin	WebNews	0	17th December 2012 09:42
Apple Throws a Tantrum Over Court Ruling	Stefan Mileschin	WebNews	0	27th November 2012 07:11
Everspin throws first ST-MRAM chips down	Stefan Mileschin	WebNews	0	15th November 2012 08:25
Corning and Samsung plan LCD glass plant in China	Stefan Mileschin	WebNews	0	25th July 2012 06:47
Theresa May throws O'Dwyer to the wolves	Stefan Mileschin	WebNews	0	4th July 2012 07:20
Samsung loses cash on power cut	Stefan Mileschin	WebNews	0	18th June 2012 07:03
Vodafone throws its toys out of the pram	Stefan Mileschin	WebNews	0	20th March 2012 08:14
Asetek throws in towel for VapoChill Core i7 Support	jmke	WebNews	1	12th April 2009 07:55
MSI KunShan Factory Tour 2007	piotke	WebNews	0	16th September 2007 16:37
Yahoo throws in the search towel	jmke	WebNews	0	24th January 2006 20:30