Throughout last year Samsung generated a good sum of revenue from it memory business but the blooming season has eventually slowdown during the last quarter of 2018 and now the company is seeking new efforts to grow back in the memory chip business.
According to The KoreanHerald, Samsung Vice Chairman Lee Jae-Yong is on his holidays in China but also went to check on Samsung’s memory plants in the Shaanxi province in central China.
March Last Year, Samsung announced the construction on a second production line at its factory located in Xian China that took $7 billion investment to meet the growing demand for its 3D V-NAND products.
“The vice chairman was planning to take a tour of the memory production site in China and hold a meeting with some Chinese government officials,” said a senior Samsung spokesman.
The source also reported that Lee was also planning to take a look at Samsung SDI’s plant for electric vehicle batteries in Xian, where the company is rumored to construct another EV battery factory by investing over 1 trillion won ($893 million) this year. But he didn‘t appear at the SDI plant, the company confirmed.
Samsung’s fourth-quarter results show an operating profit of 10.8 trillion won (US$9.7 billion), down 29 percent from the previous year. Which is led down by the weakening demand of memory business.