Samsung To Spend $3 Billion In Austin Retrofit

Samsung Electronics said Monday that it is planning to spend between $3 billion and $4 billion in the next year in Austin, to retrofit its chip making plant to manufacture chips for smartphones and tablet computers. The firm's Austin operations previously manufactured memory chips, and are being converted to provide logic chips which are a key part of smartphones. The factory is expected to go into production with the new line of products late next year, according to reports.