Samsung Electronics to Expand Chip, LCD Operations in China

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Last updated at: (Beijing Time) Friday, October 25, 2002

Samsung Electronics to Expand Chip, LCD Operations in China

South Korea's Samsung Electronics Co. said Friday it plans to expand its semiconductor and liquid crystal display operations in China, targeting revenue of $4.2 billion from the operations by 2006.

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South Korea's Samsung Electronics Co. said Friday it plans to expand its semiconductor and liquid crystal display operations in China, targeting revenue of $4.2 billion from the operations by 2006.

The diversified maker of chips and electronic products expects revenue from the operations of about $830 million in 2002, up 87% from a year earlier. The company posted total revenue of 9.92 trillion won ($8.08 billion) in its latest quarter.

Samsung Electronics plans to expand its work force in China, targeting a total work force of 4,500 by 2006 from the current 1,000.

"China represents a very attractive market in the IT industry," said Lee Yun Woo, Samsung Electronics' president of semiconductor operations.

Samsung Electronics said it will expand its production levels and research and development in China in order to maintain its competitiveness in the semiconductor and LCD businesses.

The company, which began construction of a thin-film transistor liquid crystal display plant in China recently, plans to begin commercial production of 14.1-, 15-, 17- and 19-inch notebook monitors beginning in the third quarter of 2003. It is targeting production of 200,000 units a month from the plant.

In order to expand Samsung Electronics' semiconductor operations in China, its Samsung Electronics Suzhou LCD unit will begin operation of a dynamic random access memory and synchronous DRAM semiconductor line by the end of this month, the company said. The line will produce about 260,000 256-megabit double data rate, or DDR, and synchronous DRAM modules, as well as chips for handsets.

Samsung posted revenue of 3.1 trillion won from its semiconductor division, which includes liquid crystal displays, in the third quarter.

Source: agencies

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