Samsung spend more than $14 billion in the second phase of China chip plant: Reuters

FILE PHOTO: The logo of Samsung Electronics is seen at its office in Seoul, South Korea, March 23, 2018. REUTERS/Kim Hong-Ji/Photo File

BEIJING (Reuters) – the South Korean tech giant Samsung Electronics Co Ltd will spend more than $14 billion in the second phase of the investments in the memory chip plant in Xian, China, China ‘ s official Xinhua news agency reported on Friday citing a Samsung executive.

Xinhua, citing Samsung’s Vice-President of Ji Hyun-ki, said the second phase of the investment in the Xian plant will be completed in July of this year and start production in the first quarter of 2020.

Reporting by Beijing Monitoring Desk; Editing by Susan Fenton

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