Samsung begins to build chip plant worth $7billion in China

Samsung begins to build chip plant worth $7billion in China

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Electronics manufacturer Samsung Electronics on September 12, 2012 said that it has started building a new chip plant worth $7 billion in the Chinese city of Xian. The new plant by Samsung has marked the biggest ever investment in the country.

The plant is scheduled to become operative by 2014 and will be manufacturing 10 nanometer class NAND flash memory chips which are used for the smartphones and computers. Earlier Samsung had said that the plant when completed would produce 10,000 12 inch wafers each month. The company also provides chip components to other IT firms including its own industry rivals like Apple and Nokia.