[THE INVESTOR] Samsung Electronics
said on Oct. 27 it will make a record 27 trillion won (US$24 billion) investment in production facilities for semiconductors and displays this year.
The company said 13.2 trillion won will be poured to beef up the production of V-NAND flash memory chips that are used for large-scale data centers and business servers and to upgrade other production facilities overall.
Another 10.9 trillion won will be used for the production expansion of flexible organic light-emitting diode displays whose demand is soaring recently as more handset makers, including Apple, are bracing for the adoption for their next high-end models.
On the day, the company reported its third-quarter operating profit tumbled 29.7 percent to 5.2 trillion won from a year ago, hit hard by the discontinued Galaxy Note 7 for safety concerns. Revenue also fell 7.4 percent to 47.8 trillion won.
By Lee Ji-yoon (email@example.com