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Samsung will invest $22 billion in AI, 5G, chips, displays, and more

Samsung will invest $22 billion in AI, 5G, chips, displays, and more

Samsung said it plans to directly employ 40,000 employees over the next three years, hovering above the company's average employment of roughly 25,000 over the past three years.

Samsung has a reputation for forging ahead with investment even when competitors brace for a slowdown, a strategy that's helped it emerge as the world's biggest chipmaker after surviving one crunch after another.

To expand its AI capability, Samsung will be increasing the number of researchers to 1000 across its global AI centres in the UK, Canada, Russia, US and South Korea.

"Samsung aims to become a leader in electronics components for future cars such as system-on-chips for autonomous driving, utilizing its leadership in semiconductors, telecommunications and display technologies. It will continue to invest heavily in the businesses, including developing and manufacturing biosimilars", the statement said.

The South Korean tech giant said it made a decision to expand investment to revitalize the national economy and foster new growth engines. (Nasdaq: QCOM). Under its latest plans, it is to channel more spending into its manufacturing hubs, including its facility in Pyeontaek, and increase investments in the production of memory chips, non-memory equipment and advanced manufacturing equipment.




Samsung has confirmed that it's going to invest over $20 billion in new growth areas over the next three years. The new investment plan follows the overhaul of the group's management at the end of 2017 and comes in the face of slowing sales at its biggest earner in recent years, smartphones. Those areas are seen as Samsung's new growth engines.

The announcement sent shares in contract drugmaker Samsung BioLogics (207940.KS) up 7 percent.

Lee was released from jail earlier in 2018 after a year in detention on bribery charges, lifting hopes among some investors that Samsung will hike investments and create jobs.

Investors greeted Wednesday's news with cautious optimism, with Samsung Electronics' shares rising 0.21 per cent to close at 46,800 won.

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