Samsung Electronics signs $16.5 billion contract to supply semiconductors
said on Monday it has signed a contract valued at $16.5 billion to supply
semiconductors
to a major
global corporation
.
The world's biggest memory chipmaker said in the regulatory filing the deal signed on Saturday was for
contract chip manufacturing
and said details of the agreement including the counterpart and terms would not be disclosed until the end of 2033.
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Samsung Electronics declined to comment on the contract.
Shares in the tech giant opened up 3.5% on Monday.
Samsung Electronics is a major player in contract chip manufacturing, also known as
foundry services
.
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While Samsung is the second-largest player in the industry, behind
TSMC
in market share.
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