Samsung receives nod for its China plant

Samsung Electronics has received Chinese approval for setting up a memory-chip factory in China.

Korea's ministry of knowledge and economy said it would provide regular security consultancy to prevent any technology leaks.

Samsung, the world's biggest memory chipmaker, wants to access the growing demand for smart phones and tablet computers in China.

Samsung's China plant will role out chips used in smartphones, tablets and MP3 players.

Samsung's plant will produce Nand flash memory chips which have been projected to have a global market of $29 billion this year.

According to analysts a major portion of that growth is expected to come from China, where economic expansion and stronger domestic consumption for hi-tech gadgets.

China is the world's biggest manufacturer and consumer of electronics goods and China itself may consume 55 per cent of the global chip sales by 2015, according to analysts.