Last week, several media reports claimed that Samsung Electronics, a South Korean multinational conglomerate, is planning to raise investment by $8 Billion for its chip production factory in China. This huge investment would focus on boosting its NAND flash memory chips production in China’s plant.
This impulsive decision of hiking investment comes as the memory market is supposed to boom next year owing to the limited supplies and increasing demand for 5G-supporting devices across the globe. Samsung is the globally largest manufacturer of NAND flash memory chips, which are equipped in USB flash drives, memory cards, solid-state drives, and mobile devices. These tiny chips can hold massive data permanently.
In 2017, Samsung proclaimed that it would invest $7 Billion over the next three years for the mass production of NAND flash memory chips in its Xi’an-based plant. However, Samsung has not released any statement over the recent plan of additional investment for its chip manufacturing plant in China.
Besides Samsung, other companies that are manufacturing flash memory chips include US-based Micron Technology Inc, Korea’s SK Hynix, and Toshiba Corp. Several Chinese tech giants have tried to reserve a significant position in the memory market but none of them was capable enough to compete with the existing market players.
On a related note, US tech media TechCrunch organized a conference in which Sohn Young Kwon, Samsung Electronics President, stated that the South Korean smartphone maker has sold one million Galaxy Fold smartphones, since its launch in September. However, the company has denied the statement and media reports claiming that Sohn got confused in the numbers.
A representative from Samsung emphasized that the company has not yet achieved a milestone of selling 1 million foldable handset units. Several experts and analysts earlier expected that the company would sell around 40,000–50,000 foldable smartphone units this year.