Samsung goes on buying spree

While the rest of the world is sitting hoping that the world economy will not collapse, Samsung has said that it will increase its investment this year to a record $41.4 billion.

The cash will be spent will be in everything from building factories to research and development activities to doing mergers and acquisitions and hiring.

As Reuters points out, it shows how much difference there is between the Samsung and uts faltering rivals.

Samsung tends to chuck money into new technologies ahead of rivals, and it seems that Samsung is now banking on logic chips and OLED displays to be its next big thing.

Historically the outfit spent a fortune on flash chips, computer memory chips and LCD flatscreens, even as a gloomy global economic and IT spending outlook forces its peers to cut back.

Lee Sun-tae, an analyst at NH Investment & Securities pointed out that Samsung has piles of money to play with and make bets in new technology.

The group also said it will hire over 26,000 more staff this year, up from last year’s 25,000. Samsung now employs around 350,000 in total.