Samsung Electronics to produce new Qualcomm chips in blow to TSMC

By Se Young Lee SEOUL (Reuters) - Qualcomm Inc said on Thursday Samsung Electronics Co Ltd will become the sole manufacturer of its new flagship mobile chip, a major boost for the South Korean tech giant as it vies for deals with bigger rival TSMC. The deal, which some analysts estimate is worth over $1 billion, comes as Samsung, a major Apple Inc supplier, is heading into another profit drop this year due to slowing demand for consumer electronics and components. "This is very significant becau