Samsung Profit Set to Hit a high Thanks to Chips

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Samsung, a Korean-based company, has been doing well in the last few years. The company is expecting to earn $14 billion in revenue this year alone, thanks to strong demand for its chips. It can be said that Samsung’s new chip production factory in Austin, Texas is the main contributor of the country’s high profits. 

Samsung had already opened a foundry business in San Antonio, but they are now expanding their operations even more with the opening of new facilities. They are also considering turning some of them into solar power plants. 

However, this is not the only thing that Samsung is involved in. They are also expanding their line of smartwatches as well as some new phone models such as the Galaxy series and others.

The company already has a wide range of products. Aside from semiconductors, they also produce refrigerators, televisions, and every other electronic device that you can possibly think of.

Samsung, and other big companies such as Intel and IBM, have been spending millions to update their infrastructures so they can improve the production of semiconductors. Chips are made from silicon wafers, which come in different sizes. The chips that Samsung produces go into phones and computers, which is why they are also busy producing better quality semiconductors.

Samsung is now racing against Intel to become the biggest chip-maker in the world. By 2020, Samsung expects to make $62 billion in revenue from its technology business alone. The company has already started its preparations by building new facilities for this plan.

The South Korean company also said that this is just one of their many other plans to make itself a global leader in the world of technology. They will eventually expand their operations into different continents such as Europe and other places where they can find new business ventures.

Samsung’s first semiconductor factory was only launched last year and it has already helped boost Samsung’s profits. Their second semiconductor factory was opened in January of this year while their third one is scheduled to be opened around July, which means that their plans are already halfway complete.

Samsung’s semiconductor business has already made $2.5 billion in profit since last year alone and if their recent earnings report continues to say the same thing, then their goal of reaching $14 billion in earnings this year is more than achievable.

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