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Samsung Electronics To Invest Over $1 Billion In US Chip Production

Samsung Electronics plans the investment to meet growing demand.
Samsung Electronics plans the investment to meet growing demand.

Seoul: Samsung Electronics Co Ltd said on Tuesday it plans to invest more than $1 billion by end-June 2017 to boost production of system chips at its Austin, Texas, facilities to meet growing demand.

Samsung said in a statement that it would boost production of chips for mobile and other electronic devices from its existing facilities in Austin.

© Thomson Reuters 2016