May 12, 2017 / 7:13 AM / 2 months ago

Samsung Electronics creates new contract chip manufacturing division

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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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