Technology content trusted in North America and globally since 1999
8,427 Reviews & Articles | 64,578 News Posts

Samsung to expand operations in Austin, Texas

Samsung expanding Texas-based chip plant

By Anthony Garreffa from Jan 17, 2012 @ 18:29 CST

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.

samsung_to_expand_operations_in_austin_texas_01

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 SOURCES:Bloomberg.com, Uk.reuters.com


Related Tags

PRICING: You can find products similar to this one for sale below.

USUnited States: Find other tech and computer products like this over at Amazon.com

UKUnited Kingdom: Find other tech and computer products like this over at Amazon.co.uk

AUAustralia: Find other tech and computer products like this over at Amazon.com.au

CACanada: Find other tech and computer products like this over at Amazon.ca

DEDeutschland: Finde andere Technik- und Computerprodukte wie dieses auf Amazon.de