Samsung has cut the ribbon to its new chip plant in Xi’an, China, which spans 230,000 square meters and cost US$7 billion to build. Operating since Friday, the facility produces 10-nanometer NAND flash memory chips and is estimated to generate annual sales of 60 billion yuan (US$9.74 billion) at full capacity, reported China Daily. The plant is located in the Xi’an high-tech development zone in China’s Shaanxi province.
Samsung opened a new factory in Xi’an, China, where the South Korean tech giant will produce 3D V-NAND memory chips. Vice Chairman and CEO of Samsung Electronics, Oh-Hyun Kwon along with Chinese and Korean officials, Samsung suppliers and clients were present at the inauguration. The facility took 20 months to complete and spans 230 thousand square meters. The grounds it’s built on are larger than that – 1.14 million square meters – and by the end of the year will also house an assembly facility and a testing complex. China is where 50% of the world’s supply of memory chips comes from. With this move, Samsung will have a more secure place in that business and promises a stable supply for its customers.