Austin, Tex. is famous for many things. It bears the name of Stephen F. Austin, the “Father of Texas,” is the state capital and the 13th largest city in the U.S. Plus, it is home to the South by Southwest music festival and the O Henry Museum. But now, thanks to a huge investment by Samsung (News - Alert), Austin will also be home to one of the largest chip manufacturing plants in the world.
The Korea electronics company is investing $4 billion to renovate its manufacturing plant in Austin. The company’s goal is to increase production on chips used in smartphones and tablets. The company plans to use the influx of cash to ramp up production, estimating that the Texas plant will be ready for mass production by the second half of next year.
Samsung, the world’s largest manufacturer of computer memory chips, is attempting to adjust to the new marketplace paradigm, where mobile devices are king. In June, the company revealed it has made a $2 billion investment in a South Korean plant that will also make chips for tablets and smartphones.
These investments go hand-in-hand with the recent unveiling of a new tablet, the Samsung Galaxy Note 10.1, which is said to be more interactive than the iPad, and word that Samsung’s recent growth in the smartphone market has enabled it to have the largest share of that market. The new plants in Korea and Austin should serve to position Samsung as a market leader in these areas in the near future.
Tablet image via Shutterstock.
In addition to this new plant, Austin is also home to the world’s largest communications and technology event. ITEXPO (News - Alert) returns to the Austin Convention Center this year, and, from October 2-5, the city will be host to dozens of exhibitors and speakers and a host of colocated events. For more information on ITEXPO, click here.
Want to learn more about the latest in communications and technology? Then be sure to attend ITEXPO West 2012, taking place Oct. 2-5, in Austin, TX. Stay in touch with everything happening at ITEXPO. Follow us on Twitter.
Edited by Jamie Epstein