Samsung to invest $33bn in chips

Samsung Electronics, the world’s second-largest chipmaker, is to spend $33bn over the next seven years on new production lines and a research centre to meet growing demand for semiconductors.

The investment plan to boost production capacity for semiconductors, which make up the lion’s share of Samsung’s profit, comes as the technology giant’s other businesses, such as flat-panel and handset manufacturing, suffer from sliding prices.

The chip sector just keeps growing, and with more and more devices needing chips there seems to be little end to this growth.