Samsung Display Devices Co Ltd, a subsidiary of Korea’s Samsung conglomerate, is to invest 400bn won ($330m) to increase production of rechargeable batteries. The company announced it has already started construction on a second production facility which should come online by the end of the year. It will have a monthly production capacity of 4 million rechargeable lithium ion batteries and polymer batteries, which are mainly used in mobile phones and notebook PCs. Until now Japanese manufacturers have dominated the world rechargeable battery market, but with both Samsung and the LG group revamping their battery production capabilities the Korean manufacturers are aiming at capturing a large slice of the international market which is expected to be worth $2.5bn this year.
