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Samsung Eyes Chip Production Growth in 2023

Samsung Electronics is looking to increase its chip production at the P3 factory in Pyeongtaek, South Korea next year, a South Korean newspaper reported on Sunday. This decision comes despite expectations of an impending economic slowdown.

While the broader industry tends to cut chip production in such circumstances, Samsung is committed to pushing production at its largest semiconductor plant with a vision to meet mid to long-term demand. “We plan to stand behind our original infrastructure investment plans,” Han Jin-man, executive vice president of memory business at Samsung stated when first asked about this situation in October.

Analysts expect that Samsung’s decision to invest more in chip production will likely assist the company in expanding its market share in memory chips. The company is reportedly looking to add a 12-inch wafers capacity for DRAM memory chips at the facility.

By contrast, major rival Micron Technology Inc announced last week its plans to scale back investments in 2023 to between $7 billion and $7.5 billion from $12 billion in 2022. Taiwanese chipmaker TSMC, another close rival, has decided to reduce its budget by 10% for the coming year.

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