Samsung invests $7bn to build memory chip factory in ChinaApril 3, 2012 - 15:04 AMT PanARMENIAN.Net - Samsung Electronics, the world's biggest memory chip maker, has unveiled plans to invest $7bn to build its first chip factory in China, BBC News reported. Samsung will initially invest $2.3bn in the plant, which will make chips for smartphones, tablets and MP3 players, and increase its investment gradually. The firm has been looking to tap into the lucrative Chinese market, but there have been fears of technology leaks.Samsung won government approval to build the plant earlier this year. In an emailed statement to the BBC, Samsung said the new facility would help it "rapidly respond to meet the fast-growing demand from customers and further strengthen competitiveness in the memory industry". The plant is expected to start production by the end of 2013. Over the years, China has become a leading manufacturing hub for consumer electronics. Contract manufacturers such as Foxconn, have been making gadgets ranging from smartphones to tablet PCs for leading global brands. Many of these products use memory chips manufactured by Samsung. Analysts said having a production facility in China would help Samsung to further strengthen its position with its customers Top stories Yerevan will host the 2024 edition of the World Congress On Information Technology (WCIT). Rustam Badasyan said due to the lack of such regulation, the state budget is deprived of VAT revenues. Krisp’s smart noise suppression tech silences ambient sounds and isolates your voice for calls. Gurgen Khachatryan claimed that the "illegalities have been taking place in 2020." Partner news Most popular in the section | Armenia, Turkey discuss restoration of historic bridge The meeting took place on May 17 in Ashgabat on the sidelines of an international conference of ministers of culture. India wants Armenia’s proposals on use of Chabahar port India is expecting proposals from Armenia regarding the use of Chabahar port in Iran, Indian ambassador says. EU welcomes Armenia-Azerbaijan “progress” The EU has welcomed “progress” made in the framework of the Armenia-Azerbaijan border delimitation process. Belarus opposition leader slams Lukashenko for Karabakh trip Belarusian opposition politician Sviatlana Tsikhanouskaya has harshly criticized the visit of Lukashenko to Karabakh. |