Since the pandemic is going down slowly and people are back to business, so does Samsung. The company plans to have a major investment in the strategic business in different departments that includes semiconductors, biopharmaceuticals, telecommunications, and emerging technologies like Robotics.
The pandemic reorganized the global supply chain for chips, especially with Intel and Qualcomm Semiconductor Manufacturing Company expanding their spending to compensate for the supply-chain demand.
In semiconductors, the company stated that it would invest in advanced processes to sustain its memory chip leadership and to become a leader in logic chips. With the current global shortage of semiconductors, the industry demands aggressive investment, according to Samsung.
In biopharmaceuticals, Samsung will grow its contracted manufacturing business through its affiliates. Samsung Biologics and Samsung Bioepis by constructing two additional plants in addition to the three it now operates and the fourth that is currently under construction.
The company is aiming for a 30% market share by 2023 in the biopharmaceutical contract manufacturing market, it said.
According to Samsung, the corporation’s priority in telecommunications would be on spending on software to make networks more advanced and smarter. It plans to increase R&D investment and hire additional people in the areas of virtual networks and open base stations.
Samsung will maintain its focus on 5G while simultaneously expanding its preparations for 6G, according to the company.
The $205 billion won investment plan also includes funding for continued R&D in future technologies and applications such as AI and robots. According to Samsung, this investment will go toward creating novel display applications, high-energy-density batteries, and solid-state batteries.
This strategic business plan will also create major opportunities for 40,000 direct jobs with 180 trillion won of that total to be spent in South Korea. According to Samsung, it spent around 180 trillion won in capital expenditure and R&D from 2018 to 2020.
The post-pandemic growth of Samsung remains well whereas, some top tech companies have to face major losses; Huawei revenue faces the biggest ever fall! even in its entire history and somehow our vintage brand LG decided to shut down its smartphone business.
Samsung allocated major profits this year. The company had a 53% sales profit boost in the second quarter of 2021 despite facing the global chip shortage. The company will also generate massive revenue as Samsung’s flagship smartphones are about to arrive in the coming months that’s the most awaited smartphone of Samsung.
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