Samsung to invest $615M in Flash memory, DRAM chips

Samsung Electronics will invest $615.4 million into manufacturing Flash memory and DRAM chips used in mobile phones, MP3 players and cameras. The company will build a new production plant in South Korea that it expects to open in the first half of 2006. Samsung said the facility is intended to help the company accommodate the expected rise in demand for memory chips. Samsung is currently supplying Apple with NAND Flash chips for the iPod Nano music player. Back in September the company announced a capital investment plan that included investing $33 billion over the next seven years and creating 14,000 new jobs in South Korea.

For more on Samsung's memory chip plans:
- see this article from BusinessWeek