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Samsung to invest $1b in China this year

By Zheng Lifei (chinadaily.com.cn)
Updated: 2009-02-27 15:37

South Korean electronics giant Samsung Electronics will plough $1 billion into China this year and cut non-R&D spending to cope with the economic downturn, a senior company official said on Friday.

Samsung will "strive not to cut jobs in its China operations", Wang Tong, vice-president of Samsung China, said.

The South Korean firm will also develop more medium- and lower-end products in the country to meet demand, said Wang, who also serves as chief technology officer of Samsung China.