Samsung Elec to invest $7 billion in 3 years to expand China NAND chip production

SEOUL (Reuters) - Samsung Electronics Co Ltd said on Monday it expects to invest $7 billion in the next three years to expand its NAND memory chip production in Xian, China.

The South Korean tech giant said in a regulatory filing that it approved on Monday $2.3 billion out of the $7 billion in expected investment.

(Reporting by Joyce Lee; Editing by Kim Coghill)