Seoul, Dec 26 (IANS): Samsung Electronics is reportedly planning to expand its semiconductor production at its P3 factory in Pyeongtaek, South Korea, which is the company's largest chip manufacturing facility.

This move contrasts with the reduction in investment by rival chipmakers, global economic slowdowns and declining demand, reports SamMobile.

According to experts in the industry, the tech giant is considering the expansion of its chip production in order to outperform its competitors and support the share price of the company once the market recovers.

The expansion plans include a 12-inch wafer capacity for DRAM chips.

Additionally, the company intends to increase the plant's 4nm chip capacity which will be built under the foundry contracts, the report said.

Meanwhile, last week, Samsung Electronics had announced the development of its 16GB dynamic RAM built using the industry's first 12-nanometer (nm)-class process technology.

With mass production set to begin in 2023, the company said "its new DRAM will advance next-generation computing, data centres and AI applications with industry-leading performance and greater power efficiency".