Samsung is a well-known company for all of us because of its widespread wings in the technological world. Now, the company is going to launch a new memory chip line in its home country- South Korea. The construction of these NAND memory chips has already started in its plant located in Pyeongtaek city.
Samsung, the largest chipmaker in this world is aiming to mass-produce these memory cards in the second half of 2020 so that it can help with the people who need extra storage. With the world pandemic that we are facing in 2020, a lot of people are working from home and extra memory can come in handy for them.
The company also added that this additional capacity will help in meeting the demand for 5G smartphones. Although the company didn’t disclose the investment amount for this new line, it has been estimated that they are spending an amount of KRW 7 trillion (around 42,956 crores) to KRW 8 trillion (around 49,000 crores).
Establishment of the Second Xian Plant
Apart from that Samsung is also expanding its second Xian plant in China to start production from the first half of the next year. Working from home, digital lifestyles, etc. are on a rise these days and this may help South Korea’s Samsung with exports. According to analysts, the exports of that country will rise by seven percent which indeed is a big shift.
Chinese companies increasing the prices of their products is another reason why the world is looking at South Korea for these memory chips.