Samsung Holds Talks With Intel On Chip Manufacturing

The world’s largest manufacturer of phones, Samsung Electronics SSNLF, said its Vice Chairman Lee Jae-Yong met Intel Corporation INTC CEO Patrick Gelsinger to explore areas to work together.

What Happened: Amid global supply chain woes, South Korean tech giant Samsung and Intel discussed how the companies could work together in a wide range of semiconductor businesses, according to Korea Herald.

After attending the World Economic Forum 2022 in Davos, Switzerland, Intel’s chief flew to South Korea to meet the Samsung executives. The meeting was attended by Samsung Co-CEO Kyung Kye-hyun, Samsung‘s mobile division head Roh Tae-moon and other high-ranking officials.

Samsung and Intel are the top two companies in the chip industry by revenue.

This came a year after technology giant Intel made a comeback in the chip manufacturing business, rivaling the likes of Taiwan’s TSMC TSM and Samsung.

Price Action: According to data from Benzinga Pro, Intel shares closed 2.46% higher at $44.55 on Friday.

See Also: Samsung Looks To Invest $356B Over Five Years in Next-Gen Technologies - Here's Why