Things are going well for memory manufacturer Hynix, they are investing massively in a new plant. In fact they will invest $2.6 billion to boost its NAND production to anticipate on increasing demand for mobile and computer storage.

The new plant begins construction from August and will be completed by June 2019, the Icheon, South Korea-based company said in a statement. DRAM chips are used in mobile and computers to help run multiple programs simultaneously, while NAND is needed in smartphones and tablet computers for functions from playing videos and multitasking to storing books and photographs.

Hynix reported a 43.1 percent drop in net income in the third quarter but the persistent rise in chip prices, with demand outstripping supply, is boosting expectations for sharply improved earnings in the fourth quarter, Kiwoom Securities Co. said in a Dec. 14 report.

SK Hynix invests bigtime in new NAND memory factory