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Samsung strengthens its presence in the semiconductor segment
The Korean corporation Samsung announced its development plans for the next three years. During this period, the electronics manufacturer will invest about 206 billion dollars in the most promising areas for it – semiconductors, artificial intelligence and robotics, as well as pharmaceuticals. The corporation hopes that the increase in resources will allow it to take a leading position in these market sectors.
It should be noted that Samsung is already a leader among manufacturers of microchips, but it continues to improve processes in this direction to maintain its position among strong competitors. In addition, the company plans to strengthen development in the field of artificial intelligence and robotics, as it sees great potential here. These technologies are used in many industries, and their need will only grow in the future.
The company did not specify whether the stated amount of investment includes 17 billion dollars, which previously went to the construction of a plant for the production of microchips. The new facility is located in the U.S. state of Texas, and Samsung has already applied for tax credits, which the government provides under the program of increasing production of semiconductors. The Korean company not so long ago launched another plant in Austin, which is also engaged in the production of microchips.
Representatives of the corporation note that the production of semiconductors is one of the main segments for the Korean economy. Increased investment in this direction is dictated by the need to maintain competitiveness in the market, which increases every year.
The new investment strategy is 30% more than the amount invested under the plan of the previous 3 years. The decision to increase was made in order to maintain leadership in the segment, as well as to strengthen the developments to better withstand the changes that occurred in the world during the pandemic.
Before Samsung officially unveiled the new investment plan, its head was released from prison. Lee Jae Yong received a real prison sentence on charges of embezzlement and bribery.
The Korean manufacturer’s competitors are also increasing investments in the semiconductor sector. For example, TSMC Corporation intends to allocate about 100 billion dollars on the expansion of industrial areas for the production of chips. Earlier Intel announced an increase of its capacities, which will be invested 20 billion dollars. Active development of the semiconductors sector is connected with global deficiency of this product. Therefore, many corporations are increasing production bases to meet the demand, and governments are introducing benefits and support programs for the construction of factories for the production of chips.
The deficit of semiconductors is felt most of all in the automotive industry; a number of companies had to reduce the production of vehicles due to the lack of microchips for them.