Samsung Electronics has revealed plans to invest $14.7bn in a new semiconductor manufacturing plant in South Korea.
To be built in Pyeongtaek, work under the project would commence during the first half of 2015 and be completed by the second half of 2017.
The South Korean firm is yet to confirm the type of processors, whether logic or memory chips, to be built at the new facility, Reuters reported.
Samsung’s chip business is expected to witness faster growth in what is projected to be a weaker third quarter period for the group’s smartphone business.
Reports project that the chip unit would deliver more operating profit compared to mobile unit during the quarter for the first time in over three years.
The smartphone unit has been losing market share as Apple leads the high-end market and domestic phone makers are making in-roads into the mid-and-low cost markets.
Samsung had helped Apple in developing the new A8 processor that currently powers iOS devices including the iPhone 5S.
Further, the South Korean firm is also working on 64-bit processors for integration into its Galaxy smartphone line-up, which can address 18,400,000 trillion values, while accessing more than 4GB of RAM.
