Samsung Group, the parent company that owns Samsung Electronics and several
other subsidiaries, said it plans to spend $41.1 billion investing in new
technology this year.
Reuters said most analysts expect the company to
spend a large chunk of that money on OLED and mobile technologies in an effort
to continue to stay on target with its rivals. The South Korea-based company
uses its OLED displays on mobile phones and on televisions. “Samsung’s got
strong cash flow to make bold bets in new technologies,” NH Investment &
Securities analyst Lee Sun-tae told
Reuters. “No other IT company can
beat it in terms of investment and that’s how Samsung finds new revenue sources
ahead of rivals and widens its gap.” Samsung’s spending on its mobile processors
and other mobile technologies is expected to exceed the amount it spends on its
memory business for the first time ever,
Reuters said. The firm
currently employs about 350,000 people around the globe and expects to hire
26,000 additional employees this year.
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