SEOUL (Reuters) - Samsung Electronics Co. Ltd. said on Sunday it will build a 30 billion rouble ($1.16 billion) digital television plant in Russia by 2010 to meet growing demand from the region.
Samsung, which makes products ranging from semiconductor chips, LCD panels and handsets to home appliances, will break ground for the 47.3 hectare plant in Kaluga, southwest of Moscow, in July, its spokesman Anthony Lee said.
The South Korea-based company, competing with Japan's Matsushita Electric and hometown rival LG Electronics, is aiming to churn out 2.2 million digital TV sets at the new plant a year in 2010.
Panasonic-brand maker Matsushita said last year that it would begin liquid crystal display (LCD) television assembly in Russia, taking aim at strong growth potential in flat TV demand there.
