Samsung steps up $164 billion plan to take on Taiwan chipmaker TSMC

SEOUL - Samsung Electronics has begun building a cutting-edge chip production line intended to help it take on Taiwan Semiconductor Manufacturing Co in the business of making silicon for external clients.

Samsung, the world's largest maker of computer memory, smartphones and displays, in 2019 outlined its aim of spending US$116 billion to compete with TSMC and Intel in contract chipmaking, making silicon for customers like Qualcomm or Nvidia. Its announcement on Thursday coincides with the announcement of restrictions on the sale of semiconductors made with American gear to China's Huawei Technologies Co., a constraint that threatens more than a tenth of TSMC's business.

Samsung first unveiled its expansion blueprint in April 2019, outlining at the time its goal of hiring thousands and ramping up investment in logic chips in the years leading up to 2030. That initiative arose as sales of smartphones and consumer electronics plateaued and competition from Chinese rivals depressed margins.

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