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Memory king Samsung takes on TSMC in 5G chips

South Korean chipmaker hopes to dethrone Taiwan foundry giant by 2030

Samsung's semiconductor business has been supported by its foundry operations, which earn annual revenue estimated at over $10 billion. (courtesy of Samsung)

SEOUL/TAIPEI -- Samsung Electronics is investing heavily in next-generation chipmaking technology as it plans dominance of the global foundry market, but it needs to dethrone Taiwan Semiconductor Manufacturing Co. which has the expertise and financial wherewithal to keep its lead.

Samsung's consolidated operating profit for the three months through September fell 56% on the year to 7.78 trillion won ($6.7 billion), the company said in a statement released on Thursday. Its revenue rose 5% to 62 trillion won in the same period.

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