SEOUL (Reuters) - Samsung Electronics (OTC:SSNLF) Co Ltd said on Thursday it would invest 171 trillion won ($151.10 billion) in non-memory chips through 2030, raising its previous investment target of 133 trillion won announced in 2019.
Samsung (KS:005930) competes with bigger rivals Taiwan's TSMC in contract chip manufacturing and Qualcomm (NASDAQ:QCOM) Inc in mobile processing chips.
Samsung will accelerate research and development of advanced chip contract manufacturing processes and construction of production lines, it said in a statement.
The South Korean electronics major added that its third chip production line at Pyeongtaek, south of Seoul, will be completed in the second half of 2022.