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Samsung plans USD15.6b spending push

Samsung Electronics Co. unveiled plans to more than double its spending on new factories and equipment to a record USD15.6 billion this year, a sign of confidence in the rebounding economy and its desire for a bigger lead in memory chips and components used to make flat-panel TVs.

The ambitious spending plan could speed efforts to meet growing capacity constraints as the electronics industry ramps up to meet growing consumer demand.

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(Source: The Wall Street Journal Online)