TweakTown
Tech content trusted by users in North America and around the world
6,197 Reviews & Articles | 39,993 News Posts
TRENDING NOW: Intel teases its Haswell-EX processor, which will feature 36 threads

Samsung to expand operations in Austin, Texas

Samsung expanding Texas-based chip plant

| Business, Financial & Legal News | Posted: Jan 18, 2012 12:29 am

Samsung is looking to issue its first overseas bonds since 1997 in a move to expand the production of processors used in mobile devices such as Apple's iPhone. Samsung have sent requests for proposals to banks to borrow as much as $1 billion in order to expand production capacity at it's Austin, Texas-based plant.

 

TweakTown image news/2/2/22320_01_samsung_to_expand_operations_in_austin_texas.jpg

 

Samsung joins cash-rich technology companies such as Google, by entering the bond market as borrowing costs plummet. It's cheaper for Samsung to raise funds to meet surging smartphone demand than go into their own pocket, where they have nearly $20 billion in cash.

 

Samsung are also planning to increase investment in 2012 to boost production of not just mobile chips, but next-generation OLED (organic light-emitting diode) display panels. No detailed investment plans for 2012 have been stated by Samsung.

 

The expansion should be a great thing for Texas, and America as a whole. Creating jobs in a struggling economy, and a struggling country.

NEWS SOURCESBloomberg.com, Uk.reuters.com

Related Tags

Further Reading: Read and find more Business, Financial & Legal news at our Business, Financial & Legal news index page.

Do you get our news RSS feed? Get It!

Got an opinion on this news? Post a comment below!

Latest Tech News Posts

View More News Posts

Forum Activity

View More Forum Posts

Press Releases

View More Press Releases