Samsung plans record investment of more than 32.371 million euros

According to a teletype from the Europa Press and Reuters agencies, The South Korean giant Samsung foresees a historic investment for this year of 32.371 million euros, which will mainly be used to boost its OLED chip and screen businesses.

The group Samsung, which includes Samsung Electronics, has assured that it will increase its investment in the 2012 has a record of 41.400 million dollars (32.371,5 million euros), which has highlighted the wide gap between the South Korean giant and its competitors.

Known for making massive investments in new technologies ahead of its rivals, Samsung will now bet on logic chips and OLED screens with which to repeat its success in flash chips, memory chips and LCD flat screens. The bet will be made despite the gloomy global economic outlook and despite the fact that technology spending forecasts have forced their colleagues to be conservative in spending.

The Samsung group , the largest in South Korea, will not provide a breakdown of the investment. However, Analysts expect it to increase investment in mobile chips and OLED flat screens. “Samsung has a cash flow that allows it to make bold bets on new technologies”, commented the NH Investment analyst & Securities, Lee Sun-tae. “No other IT firm can beat it in terms of investment and this is how Samsung finds new sources of income ahead of its rivals and widens the gap”, added Sun-tae.

The group has also confirmed that it will achieve another record by hiring 26.000 employees this year, above the 25.000 from last year, at a time when tens of thousands of financial industry jobs are being cut due to market turmoil. In total, Samsung currently has about 350.000 employees around the world. Investments will be made in everything, from factory construction to research and development activities to mergers and acquisitions and hiring new employees.