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Report: China, Samsung ink chip cooperation agreement

China and Samsung Electronics Co. Ltd. on Feb. 2 signed a memorandum of understanding to further cooperate on chipmaking, artificial intelligence and semiconductor manufacturing, Reuters reported Feb. 5, citing state media China Daily.

The agreement between China's National Development and Reform Commission and the South Korean electronics giant has nothing to do with a rise in prices of storage chips. The newspaper reported in December 2017 that the Chinese state planner was closely monitoring surging prices of long-term data storage chips for mobile phones and could look into possible price fixing by major chipmakers, Reuters reported.