Samsung Electronics to invest more than $1 billion in U.S. chip production

[November 01, 2016]  SEOUL (Reuters) - Samsung Electronics Co Ltd said on Tuesday it plans to invest more than $1 billion by end-June 2017 to boost production of system chips at its Austin, Texas, facilities to meet growing demand.

Samsung said in a statement that it would boost production of chips for mobile and other electronic devices from its existing facilities in Austin.

(Reporting by Se Young Lee; editing by Jason Neely)

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