Samsung plans ï¿½5 billion LED investment
Samsung has announced a range of new investment plans relating to emerging technologies, with over ï¿½5 billion of the ï¿½14 billion total being allocated to LED systems and displays.
Samsung is clearly committed to the LED market, with a significant proportion of the allocated funds contributing to future advancements in this field. It is planning to cement its position as one of the world's key LED manufacturers, with displays, lighting and in-car components all being given an LED makeover.
By 2020 Samsung is expecting to see a ï¿½30 billion increase in its annual income as a result of this investment, with an additional 45,000 jobs being created around the world.
Samsung is investing in LED technology as part of a wider attempt to move its business into producing greener, sustainable, energy efficient devices to cater to the changing demands in a number of industries.
Samsung is planning to spend the majority of this money within the next two years, which it hopes will allow users of LED-based devices to cut down on their carbon emissions simply by using the energy efficient LED displays and products that emerge as a result.
Samsung said that it is hoping to become a market leader in the green technology industry, which it feels is ripe for expansion and into which many other firms are hesitant to set foot because, popular though the green ticket may be, it is not as yet a tried and tested route to profitability.
In addition to investing in LED systems and technology, Samsung will be funding research into advanced medical procedures and high capacity, energy efficient batteries for the electric cars of the future.
Samsung is one of the world's largest conglomerates and it is known for its innovation in many different fields. It clearly has the financial strength to back such an ambitious set of goals and its rivals will no doubt carefully monitor its progress.