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Samsung to invest $4 billion in Austin plant

Tuesday - 8/21/2012, 8:05am  ET

SEOUL, South Korea (AP) - Samsung Electronics co. will spend $4 billion renovating its plant in the U.S. to increase production of advanced chips used in smartphones and tablet computers.

Samsung's Tuesday announcement is its latest push into the lucrative logic chip business. In June, Samsung said it would spend nearly $2 billion to build a new production line in South Korea to ramp up mobile chips that work as a brain in smartphones and tablet computers.

The South Korean company said mass production in the Austin, Texas plant will start in the second half of next year. The U.S. plant also produces chips for Apple's iPhone and iPad.

Samsung is the world's largest maker of computer memory chips but is trying to reduce its exposure to the cyclical downturn of the memory chip industry.


(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)