Samsung eyeing on more acquisitions in next 3 years

Earlier today, Samsung revealed its Q4 2020 earnings. The company mentioned during its conference call with investors that in the next few years there will be more mergers and acquisitions to fight off threats from competitive firms and to fuel its future growth amid global uncertainties.

Choi Yoon-ho, Chief Financial Officer of Samsung, said the business will aggressively use its funds to accelerate investment in facilities and seek M&A deals in an attempt to strengthen its market leadership role and fuel its potential growth.

According to the senior official, for the past three years, Samsung has already been searching for prominent investors for mergers and acquisitions, which have also went through serious evaluations. The organization sadly refrained from listing any names on the list of possible applicants.

In the DRAM and NAND segments, Samsung remains the top brand, and it is expected to takeover semiconductor companies in the chip sectors. By investing $115 billion, the company has revealed its intention to become the world’s largest semiconductor firm by 2030.

In Austin, Texas, Samsung is considering building a $10 billion chip plant with the capacity to produce 3-nanometer chips. However, Samsung said nothing has been confirmed about its chip factory project in the U.S in a conference call, although it acknowledged that the company is still considering increasing its capacity for the foundry.

Samsung’s cash balance back in 2020, was 104 trillion. Thus, without any big merger or acquisitions, even though the company returns 50 percent of its dividends. The CFO also added that any proposals for additional investments in its Austin chip plant are yet to be finalized by the company.

Nayab Khan

Nayab Khan is a freelance tech-writer whose specialty is absorbing the key data and articulating the most important points. She helps IT based organizations communicate their message clearly across multiple channels.
Back to top button