Samsung Electronics Co. said Thursday it has hosted a forum on its foundry business in the United States, showcasing its latest production solutions.

The event marks the first of its kind since Samsung Electronics opened a new department under its chip division focusing on the foundry business, in line with the company's efforts to expand its market presence in the area.

Foundry business refers to making chip designs for other companies that do not have a semiconductor fabrication plant. Under restructuring, Samsung now holds three major pillars in its semiconductor business, namely memory, system LSI and foundry.

During the forum, Samsung said it eventually plans to develop a 4-nanometer Low Power Plus production technology in 2020. It also seeks to complete the development of the 8-nanometer production technology this year.

"The ubiquitous nature of smart, connected machines and everyday consumer devices signals the beginning of the next industrial revolution," said Yoon Jong-shik, executive vice president of the foundry business.

"To successfully compete in today's fast-paced business environment, our customers need a foundry partner with a comprehensive roadmap at the advanced process nodes to achieve their business goals and objectives," Yoon added. (Yonhap)