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Samsung outpaces rivals with record hiring and investments in mobile chips and OLED displays

Samsung outpaces rivals with record hiring and investments in mobile chips and OLED displays

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Samsung has made quite a name for itself in the electronics space, and the company's ready to boldly keep on trucking: today, it announced it will be hiring a record 26,000 new workers this year and investing a record 47.8 trillion won (about $41.8 billion) into future developments.

By Sean Hollister, a senior editor and founding member of The Verge who covers gadgets, games, and toys. He spent 15 years editing the likes of CNET, Gizmodo, and Engadget.

Source Samsung, The Korea Herald, and Reuters | Via Engadget and The Wall Street Journal

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Samsung Semiconductor logo HQ San Jose stock 1024
Samsung Semiconductor logo HQ San Jose stock 1024

Samsung has made quite a name for itself in the electronics space, and the company's ready to boldly keep on trucking: this week, it announced it will be adding a record 26,000 new workers to its 350,000 person global workforce in 2012 and investing a record 47.8 trillion won (about $41.4 billion) into future developments. Some of that money is being allotted directly towards new OLED screens and processors, of course, and the company's Austin, Texas plant — home of Apple's A5 chip — will be getting some special treatment in that regard, with Samsung preparing to issue up to $1 billion in bonds to raise money for operations there.

While the Samsung Group has a lot of fingers in a lot of pies, it sounds like much of that $41.4 billion will be put towards things we care about: the investment is "mainly to boost production of mobile chips and next-generation OLED display panels," according to a Reuters report. It seems like the company's doing pretty well for itself as competitors like LG struggle to keep up. If you're curious what Samsung's been up to recently, just take a look at our CES 2012 StoryStream.

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