Samsung Electronics Co Ltd has said it plans to invest roughly $614m into new memory chip lines to increase production of its DRAM and flash products.
The South Korean company, which leads the memory market, said the investment would help it retain its competitive foothold and help it get ready to meet an anticipated increase in demand.
The new production lines would begin operation in the second half of next year, the company said.
The company’s NAND flash memory chips are mostly used in mobile devices such as MP3 players, cameras and phones.
Samsung said its goal is to boost its total chip sales more than threefold, to $61bn in 2012 from $17bn in 2004. Much of that growth is expected to come from China.
Separately, the company also announced plans to triple its sales of chips in China to $5.5bn by 2010. The company pointed to China’s IT sector, which it said would likely grow 11% annual for the next five years.