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LAS VEGAS ― Samsung Electronics, the world’s top tech firm by revenue, plans to increase investments by over 10 percent this year, the company’s chief executive said Tuesday.

The amount is estimated to total some $26 billion, the highest ever, and comes at a time when its competitors are struggling.

``Samsung will make landmark investments this year in facilities and the investment plan doesn’t include our spending for research and development (R&D),’’ Samsung CEO Choi Gee-sung said.

Samsung confirmed that it will increase its investment for key facilities such as memory chips and flat-screens.

In a regulatory filing to the Korea Exchange (KRX), Samsung said it had invested some 26 trillion won for facilities throughout 2011. Officials told The Korea Times that this year’s capital spending on facilities will reach at least 30 trillion won.

``Samsung is also set to invest more for R&D for 2012 as we are being asked to globalize our R&D capability,’’ Choi said in a dinner meeting with reporters held at the Las Vegas Country Club near the main venue of this year’s International Consumer Electronics Show (ICES).

Samsung Electronics is the world’s biggest maker of chips, flat-screen displays, flat-screen televisions and smartphones. It is currently supplying chips and LCDs to tech majors like Apple, Sony and Hewlett-Packard (HP).

It is seeing a recovery in consumer spending for digital devices in key markets including the United States, but is being urged to tackle currency fluctuations for sustainable and steady corporate growth.

By Kim Yoo-chul



# The Korea Times [JAN 10 2012]