Samsung has turned to Chinese technology groups to prop up its ailing semiconductor division, as it struggles to secure big US customers despite investing tens of billions of dollars in its American manufacturing facilities.
The South Korean electronics group revealed last month that the value of its exports to China jumped 54 per cent between 2023 and 2024, as Chinese companies rush to secure stockpiles of advanced artificial intelligence chips in the face of increasingly restrictive US export controls.
In one previously unreported deal, Samsung last year sold more than three years’ supply of logic dies — a key component in manufacturing AI chips — to Kunlun, the semiconductor design subsidiary of Chinese tech group Baidu, according to people familiar with the matter.