Samsung says power outage will not harm production

Samsung Electronics, the world's largest chip maker, expects to meet production targets and quarterly earnings estimates despite a power outage at a chip manufacturing plant last week, an Associated Press report said.

The Associated Press report said all six chip production lines at a factory near Seoul resumed normal operations Saturday after an electrical blow out a day earlier caused an estimated 40 billion won ($43 million) in losses, Samsung said in a statement.

'We plan to compensate for the production losses,' Choi Chang-sik, SVP of the company, told reporters without providing specific figures.

'The company was able to resume normal operations quickly"&brkbar;and its third quarter result will speak for itself,' said Hwang Chang-gyu, president of Samsung Electronics' semiconductor business.

The cause of the outage is still being looked into, he said.