Samsung Eyes Production Ramp At Leading Chip Plant As Rivals Curtail Ambitions - Samsung Electronics Co (OTC:SSNLF)

Samsung Electronics Co, Ltd SSNLF looks to ramp chip production capacity at its largest semiconductor plant next year, despite forecasts of an economic slowdown.
Samsung plans to expand its P3 factory in Pyeongtaek, South Korea, by adding 12-inch wafers capacity for DRAM memory chips, Reuters reports.
Samsung will also expand the plant with an additional 4-nm chip capacity made under foundry contracts.
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P3, which commenced production of cutting-edge NAND flash memory chips this year, is Samsung's largest chip manufacturing facility.
The report further added that Samsung plans to add at least ten extreme ultraviolet machines next year.
Rival chipmakers scaled back investments amid falling demand and an abundance of chips.
Analysts have said that Samsung's diligence with investment plans will likely help it win market share in memory chips and support its share price on-demand recovery.
Memory chip rival Micron Technology Inc MU looked to curtail its investments in FY23 to $7 billion - $7.5 billion versus $12 billion in FY22. It also looked to reduce capex plans in FY24 significantly.
In October, Taiwanese chipmaker Taiwan Semiconductor Manufacturing Company Ltd TSM cut its 2022 annual investment budget by at least 10%.
"The chip industry downturn will add to the difficulties of No. 2 and below chip companies and have a positive impact on the market control of top companies such as Samsung," Greg Roh, head of research at Hyundai Motor Securities, said in a client note.
Price Action: TSM shares traded higher by 0.43% at $75.21 in the premarket on the last check Tuesday.
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