South Korean technology powerhouse Samsung Electronics has said that it will invest $1.9 billion in a new mobile chip manufacturing facility as the company has also announced a change in leadership.
According to Samsung which released the information on Thursday, the new facility will be making logic chips for processors of smartphones and tablets.
This Samsung facility will reportedly use 300mm wafers and 20-nanometer and 14-nanometer chips.
Meanwhile, Samsung Electronics CEO Choi Gee-sung, a veteran Samsung executive who has been with the South Korean group of companies for more than 30 years, has been promoted to a group corporate strategy position, Samsung has revealed.
“Choi is the best candidate who can chart Samsung through the global economic crisis and ever-intensifying competition,” Samsung said. Under “Choi, Samsung plans to pursue innovative changes.”
The Samsung Group is made up of 81 companies which makes anything from household appliances, to heavy machinery, ships and military equipment like armored cars for South Korea.
Samsung Electronics is now helmed by Kwon Oh-hyun who is currently overseeing the components business which makes displays and chips of Samsung.
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