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Samsung to spend more than $14 billion for the second phase investment in Xian, China

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South Korean tech giant Samsung Electronics Co Ltd will spend more than $14 billion in the second phase of investment in its memory chip plant in Xian, China, China’s official Xinhua news agency reported on Friday citing a Samsung executive.

The logo of Samsung Electronics is seen at its office building in Seoul, South Korea. Image: Reuters.

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

In more recent news surrounding Samsung, the Galaxy M20 has gone up on an open sale in India. It has been available for purchase starting from 17 May, on Amazon and Samsung’s online stores, with a price drop of Rs 1,000.

With inputs from Reuters

 

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