Monday, July 19, 2004
Reporting record financial results for the second quarter, Samsung Electronics Co. Ltd. also said it would increase annual capital expenditure from 7.9 trillion won (about $6.8 billion) to 8.9 trillion won (about $7.6 billion).
Samsung said it would increase spending despite the uncertainty of the world economy and oversupply of certain products. It did not explicitly list where oversupply was looming, but flash memory prices have softened and several LCD makers are bringing online new high-productivity factories.
Samsung said it wanted to expand the gap between itself and competitors.
The company did not specify where additional funds would be assigned, but semiconductors and LCD are likely to receive a significant proportion.
By: DocMemory
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