Asian Tech Press (Oct 13) -- Samsung Electronics plans to close the gap with Taiwan-based foundry giant TSMC with tripled foundry capacity by 2025, the Maeil Business Newspaper reported on Wednesday.

The report said that the company expects to triple its foundry capacity by 2025 versus 2017 and generate more than 39 trillion won ($32.5 billion) in 2024 to close the gap with TSMC, which accounts for more than half of global consignment chip supply with $45.5 billion in consolidated revenue in 2020.

The mid-term business development plan was announced at the Samsung Foundry Forum 2021, which was held virtually and off the record on Oct. 6-8, Maeil Business revealed Tuesday, citing industry sources.

The report added that this is the first time since 2017 that the South Korean tech giant has disclosed the management status and technology level of its foundry business in such detail.

In addition, Samsung Electronics plans to increase the proportion of sub-5 nanometer chips from 13% this year to 34.5% by 2026, and the proportion of high-performance semiconductors from 10% to 32% during the same period.

According to TrendForce's latest data, Samsung accounts for 17.3% of the global foundry market, far behind TSMC's 52.9%.