Samsung Electronics (KRX:005930) subsidiary Samsung Semiconductor's China unit rejected reports of suspending partnerships with Chinese clients, affirming its foundry business continues operations "as normal" despite mounting US pressure to restrict tech ties, the South China Morning Post reported Wednesday.
The rare public statement comes amid investor concerns and after a recent meeting between Samsung Chairman Lee Jae-yong and Chinese President Xi Jinping, who urged firms not to disrupt the global supply chain.
Amid China's push for semiconductor self-sufficiency, local rival Semiconductor Manufacturing International Corporation (HKG:0981) faces increasing costs in developing 5nm chips, lagging behind global leaders such as Taiwan Semiconductor Manufacturing Company (TPE:2330) and Samsung, the report said.
Shares of Samsung Electronics rose nearly 5% in recent trade on Thursday.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
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