Samsung set to triple its chip production despite of global shortage

The global shortage of chips and computer parts has skyrocketed prices of the latest and even old devices and this is set to last until 2023. However, Samsung has announced that it aims to triple its chip production capabilities to help turn things around and strategically one-up its rival TSMC.

As of now, Samsung has a market share of 17% in the semiconductor industry while TSMC stands tall with an astounding 53 percent market share. During the company’s third-quarter earnings conference call, Samsung executive Han Seung-hoon stated the following:

“We plan to expand our capacity about three times by 2026 to meet customers’ needs as much as possible by expanding capacity in Pyeongtaek as well as considering establishing a new plant in the U.S.”

In addition to this, Samsung is also done finalizing its $17 billion chip plant in Texas and the company further aims to invest a total of $115 billion by 2023 in order to get an edge over Qualcomm and Apple.

Moreover, Samsung aims to mass-produce the first 3nm chips within the first half of 2022. These 3nm chips are said to be 35 percent faster while ensuring 50 percent power efficiency.