Samsung to Raise Cash for Texas Plant Via Bond Sale
Samsung Electronics's U.S. operations today indicated that it is preparing to sell up to $1 billion in five-year bonds so that it can raise the funds it needs to operate its chip plant in Austin, Texas. Samsung needs financial institution support to run the sale and has sent proposals to several banks. Reuters reports that this would be Samsung's first major debt sale in more than 10 years. Samsung wants to increase its ability to produce chips and OLED screens for mobile devices.
Samsung to Invest $1B In Austin SoC Plant
Samsung today announced plans to invest more than $1 billion in its Austin chip facility during the first half of 2017. The company said the investment will improve its ability to manufacture system-on-a-chip products for mobile and electronic devices.
Samsung to Use $3 Billion to Boost Display Production
Samsung Display, a subsidiary of Samsung electronics, plans to invest heavily in its Vietnam manufacturing facility in order to increase production. The company already spent $1 billion on its OLED plant in Vietnam earlier this year, which is less expensive to operate than some of its other plants.
Samsung to Use Curved Screens to Sell More Phones
Samsung hopes to differentiate its smartphones from its competitors' phones by using more curved displays. Samsung is on track to record a huge loss in profit for the year thanks to weaker-than-expected sales of phones such as the Galaxy S5 and Note 4.
Samsung Plans to Sell Refurbished Galaxy Note7
Samsung plans to bring back the Galaxy Note7, despite the massive recall that spelled the phone's demise last year. The company will sell refurbished versions of the phone, though Samsung is still determining where via talks with regulatory authorities and carriers.
Gotta love Texas!