Sony might be suffering, and local rival LG is cutting investment for this year, but South Korea’s Samsung is on a revenue roll. The electronics company has unveiled impressive results, and told analysts that it will add 26,000 employees over the next year.
Samsung has stated it intends to invest $41 billion in new developments, and the cash is going on new silicon chip designs, especially for cellular usage, as well as OLED flat screen displays. The investment is up 11 per cent on 2011.
“Samsung’s got strong cash flow to make bold bets in new technologies,” Lee Sun-tae, an analyst at NH Investment & Securities. “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 electronics division already makes the processors which drive Apple’s iPhone and iPad devices. Its display division, Samsung Mobile Display, is also a near-monopolistic supplier of OLED displays, which are mainly used in high-end mobile gadgets and which many think are set to become dominant in TV screens to replace LCD.