Asia Express - East Asian ICT
Samsung Expected to Hike Spending on Memory, LCD Businesses in 2010
January 15, 2010
Korea's Samsung Group has earmarked an overall investment of approximately 26.5 trillion Won (US$23.6 billion; US$1=1,122.4 Won) in full-year 2010, with Samsung Electronics accounting for about 18.4 trillion Won (US$16.4 billion), according to a January 14 Dow Jones report. Previously in October 2009, Samsung Electronics said it planned to invest over 5.5 trillion Won (US$4.9 billion) in memory chip business and around three trillion Won (US$2.7 billion) in LCD business in 2010, but the company expected the total spending to ratchet up on rising market demand and improving economy. As Samsung Electronics' actual capital expenditure plan is slated for finalization in March, it is projected that Samsung may boost the combined spending on memory chip and LCD businesses up to more than 10 trillion Won (US$8.9 billion).