Yongin — Samsung Electronics planned to triple the market share of its contract chip-manufacturing business within the next five years by aggressively adding clients, a senior company executive said, as it targets new growth drivers for the unit. The estimated 5.3-trillion won ($4.76bn) business at Samsung was split off as a separate arm within its semiconductor division in May, in a clear statement that the company was preparing to focus on the business and narrow the big market share gap with leader TSMC. Executive vice-president ES Jung, the head of Samsung’s new foundry division, said on Monday the firm wanted a 25% market share within five years and would seek to attract smaller customers in addition to big-name clients to fuel the growth. "We want to become a strong number two player," Jung said. Samsung is on track for record profits and is expected to pass Intel as the top chip maker by sales in 2017 on a memory market boom. But in contract manufacturing the firm lags well b...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.