Samsung building $14.3 bln 'Semiconductor Valley'

Samsung is reportedly beginning construction on a 14.3 billion dollar manufacturing complex that will be of the size of 400 soccer fields and will supply essential components to the electronics industry.

The complex is expected to be as big as the firm's two largest semiconductor factories put together and will begin production in 2017. It is expected to further consolidate Samsung's position in the industry, reported The Verge.

After Samsung's quarterly earnings report showed that its smartphone sales fell by 20 percent year-on-year but operating profit from its semiconductor division rose 50 percent, Hong Kong-based analyst Mark Newman predicted that "components" would be the long-term story for the South Korean firm.

Samsung's smartphone sales may have declined but its semiconductor business is the world's second largest after Intel.