Samsung to Invest KRW 240 Trillion Over Next Three Years; Expand Into AI, Robotics, More Industries

Samsung also plans to strengthen its global standing in key industries such as the chip sector.

By Reuters | Updated: 24 August 2021 13:20 IST

Samsung to Invest KRW 240 Trillion Over Next Three Years; Expand Into AI, Robotics, More Industries

Photo Credit: Bloomberg

Samsung didn't provide any details on reported investment of $17 billion (roughly Rs. 1,26,050 crores)

Highlights

Samsung is the world's largest memory chip maker
The group plans to solidify technology and market leadership
The company is considering a location in Williamson County

Samsung Group will invest KRW 240 trillion (roughly Rs. 15,26,645 crores) in the next three years to expand footprint in biopharmaceutical, artificial intelligence, semiconductor, and robotics industries in the post-pandemic era, Samsung Electronics said.

South Korea's top conglomerate said on Tuesday the investments through 2023 are expected to help Samsung strengthen its global standing in key industries such as the chip sector, while seeking more growth opportunities in new fields such as next-generation telecommunications and robotics.

Samsung, the world's largest memory chip maker, did not provide a breakdown of the figures, though it added that the group plans to solidify technology and market leadership through mergers and acquisitions.

Samsung Rides Pandemic-Led Demand for Chips to Report Surge in Profits

Samsung also did not provide any details on its reported investment of $17 billion (roughly Rs. 1,26,050 crores) for a chip factory in the United States. According to a document filed with Texas state officials, the company is considering a location in Williamson County for the chip contract manufacturing facility that would result in 1,800 new jobs.

The investment plan comes more than a week after its leader Jay Y. Lee was released from jail on parole following convictions of bribery and embezzlement.

© Thomson Reuters 2021

Samsung Galaxy M32 5G Will Be Priced in India Under Rs. 25,000: Report

Are the Galaxy Z Fold 3 and Z Flip 3 still made for enthusiasts — or are they good enough for everyone? We discussed this on Orbital, the Gadgets 360 podcast. Orbital is available on Apple Podcasts, Google Podcasts, Spotify, Amazon Music and wherever you get your podcasts.

Affiliate links may be automatically generated - see our ethics statement for details.

Comments

For the latest tech news and reviews, follow Gadgets 360 on X, Facebook, WhatsApp, Threads and Google News. For the latest videos on gadgets and tech, subscribe to our YouTube channel. If you want to know everything about top influencers, follow our in-house Who'sThat360 on Instagram and YouTube.