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Samsung to Invest $4 Billion in Texas Chip Plant

“Samsung Electronics said on Tuesday it will spend about $4 billion at its chip plant in Austin, Texas, to renovate an existing chip producing line and boost production of system chips, widely used in popular smartphones and tablets.

Jung Yeon-Je | AFP | Getty Images
Samung flag flies in Seoul

The investment comes on top of 2.25 trillion won ($1.98 billion) in spending that Samsungannounced in June to build a new logic chip plant in South Korea, and the conversion of two memory chip lines into logic chip production earlier this year to meet growing demand from mobile gadget customers such asApple [AAPL  673.31    8.16  (+1.23%)   ].”

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