● Firm lowered its holding to 0.7% from 1.6% in the period

● Sale raised about $2.2 billion, Korea Economic Daily reported

Samsung Electronics Co. cut its stake in ASML Holding NV by more than half in the second quarter, as the world’s largest memory maker beefs up its chipmaking business.

The South Korean company sold around 3.55 million shares from April to June, according to its first-half report filed earlier this week. That lowered Samsung’s holding in the Dutch chip gear maker to 0.7%, or 2.75 million shares, from 1.6% at the end of the first quarter.

Spokespeople for Samsung and ASML declined to comment further.

Samsung Electronics Chairman Jay Y. Lee at ASML's EUV facilities

The sale raised about $2.2 billion, according to Korea Economic Daily. Samsung is expected to spend the funds to expand its facilities in Pyeongtaek, Korea, and Taylor, Texas.

Samsung’s chip foundry business is adding production capacity and more advanced manufacturing techniques to take on the market leader Taiwan Semiconductor Manufacturing Co.(TSMC), which is ASML’s biggest customer.

In June, Samsung said it will introduce so-called 2-nanometer production for mobile phone parts by 2025 and expand applications. The company will also significantly increase output in Pyeongtaek, South Korea, and Taylor, Texas, to shore up the foundry division, which makes chips for customers on a contract basis.

Further information on Samsung and TSMC

○Samsung

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○TSMC

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