Samsung Will Invest $7 Billion in China Flash-Memory Production

An attendee views the Samsung Electronics Co. Galaxy S8 smartphone displayed during the Samsung Unpacked product launch event in New York, U.S., on Wednesday, March 29, 2017. Samsung Electronics Co. packed the Galaxy S8 smartphone with a plethora of new features: taller, curved screens, encrypted facial recognition, deeper display colors, system-wide voice control and the ability to turn into a desktop computer.
Photographer: Mark Kauzlarich/Bloomberg

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By Robert Fenner

August 28, 2017 at 7:55 AM UTC

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Samsung Electronics Co., the world’s biggest maker of memory chips, will invest $7 billion in a Chinese semiconductor plant to meet growing demand for the NAND flash memory used in smartphones and other devices.

The spending will take place over a three-year period and be focused on its plant in Xi’an, the Suwon, South Korea-based company said in a statement Monday.