Samsung Electronics shares leapt on hopes that it could pick up new orders from US rival Intel, in a development that could provide a boost to the South Korean tech group’s chipmaking division.
Shares in Samsung jumped nearly 10 per cent in morning trading in Seoul on Monday after Bloomberg had earlier reported that Intel held talks with the Korean company and Taiwan Semiconductor Manufacturing Co over outsourcing production for some of its processor chips.
The reported discussions put a spotlight on the fierce rivalry between TSMC and Samsung, the biggest and most important companies in Taiwan and South Korea, respectively.
Samsung, the world’s biggest producer of memory chips, has been on the hunt for big contracts for its foundry unit — which makes processor chips for other companies — as it competes with Taipei-listed TSMC.
$116bn
Amount Samsung is pouring into its foundry division over the next 10…