Samsung Beats TSM, Intel With Latest Move - Read How? - Samsung Electronics Co (OTC:SSNLF)

Bloomberg reports that the Samsung Group launched a 240 trillion won ($205 billion) expansion initiative to hire 40,000 people to expand its next-generation technologies lead over three years.
The announcement follows Samsung leader Jay Y. Lee's release on parole. Lee faced imprisonment for the second time for bribing to win support for his formal succession at the conglomerate.
Samsung Electronics Co Ltd SSNLF and Samsung Biologics will drive research and spending in telecommunications, robotics, and corporate acquisitions.
Samsung earmarked 180 trillion won for South Korea and will hire another 10,000 people over the period, in addition to the 30,000 new jobs already planned.
It also entails Samsung Electronics' $151 billion spendings through 2030 on advanced chipmaking when every country is ramping up its chip-building efforts to counter the global crisis.
Taiwan Semiconductor Manufacturing Co Ltd TSM had committed $100 billion over the next three years on advanced chips.
Intel Corp INTC is in talks to buy chipmaker GlobalFoundries for $30 billion and had already committed $20 billion to drive U.S.' self-sufficiency in chip building.
Price Action: TSM shares traded higher by 0.96% at $112.03 in the premarket session on the last check Tuesday.

Samsung Beats TSM, Intel With Latest Move - Read How?