Samsung eyes record spending in 2012

SEOUL, Nov 9 (Reuters): Samsung Electronics plans to invest a record 38 trillion won (US$33.9 billion) in facilities and R&D next year, a 27 per cent jump from an estimated 30 trillion won this year, local media reported Wednesday, citing Samsung and industry officials. Edaily reported that the company plans to sharply boost spending on its "system LSI business," which includes microprocessor chips used in Apple's iPhone and Samsung's Galaxy S, and OLED displays mainly used in Samsung's mobile devices. Strong sales of mobile chips and displays, propelled by robust demand for smartphones and tablets, helped Samsung better cope with weakness in its traditional memory chips and displays used in PCs and TVs.