Samsung begins work on new Qualcomm chip

• Samsung Electronics (OTC:SSNLF) has started production of Qualcomm's (NASDAQ:QCOM) new smartphone processor - the Snapdragon 820 - using an upgraded, lower power version of its 14-nanometer FinFET technology.
• The contract that will help Samsung's chip foundry weather an anticipated loss of business from Apple, which is expected to shift to Taiwan Semiconductor for this year's model iPhone.
• For Qualcomm, the new processor presents a chance for the group to revive its fortunes after disappointing sales of its previous flagship Snapdragon 810 due to concerns about overheating.