Samsung gears up to spend on semiconductors

Speculation suggests Korean firm is set to splash out £12bn

The Korean firm is set to invest in semiconductor technologies

Samsung Electronics could be preparing to invest over £12 billion in semiconductor technology, according to media reports. The world's largest memory chip maker will be making an announcement on Monday, claims news agency Reuters.

The figure is more than double the original budget of £5 billion that Samsung confirmed it would be spending this year. The rumoured investment would give credence to claims that the industry is now well and truly in a state of recovery following its worst ever downturn.

Although Samsung declined to comment, the South Korean company said it would be holding a ceremony on Monday to start building a new chip plant, which will mark the first construction of its kind for over four years. The firm had put expansion plans on hold during the industry’s downturn.