Samsung comes up with a new annoucement, according to the information from the trusted source SamMobile, the South Korean tech firm Samsung is said to invest $500 million in Mexico to improve its manufacturing. Much of Samsung’s recent investments have been in building new chip production facilities.
Earlier it was reported that the company is working on its in-house chip for the upcoming foldable phones that are said to be launched under Galaxy A series and the expected year is 2024-2025.
Mexico is one of many countries where Samsung has manufacturing facilities. Samsung manufactures home appliances mainly at its plants in Mexico. The company will now invest heavily in Mexico to increase the production of home appliances.
Mexican Foreign Minister Marcelo Ebrand announced that Samsung will invest 500 million US dollars (about 3.355 billion yuan) in Mexico to promote the production of household appliances, and the investment will be carried out in Queretaro in central Mexico. Ebrand added that he has met with Samsung Electronics CEO Han Jong Hee to discuss the details of the investment.