May 12, 2017 / 7:13 AM / 3 months ago

Samsung Electronics creates new contract chip manufacturing division

Signage is seen at the Samsung 837 store in the Meatpacking District of Manhattan, New York, U.S., October 10, 2016.Andrew Kelly/Files

SEOUL (Reuters) - Tech giant Samsung Electronics Co Ltd said on Friday it has formed a new division within its semiconductor business for contract chip manufacturing in a move to strengthen its competitiveness.

Samsung's new foundry division will be responsible for making mobile processors and other non-memory chips for clients such as Qualcomm Inc and Nvidia Corp.

Reporting by Se Young Lee; Editing by Edwina Gibbs

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