Benzinga | Mar 25, 2021 11:14AM EDT

Samsung And Marvell Announce Novel 5G System-On-A-Chip

* Samsung Electronics Co Ltd (OTC: SSNLF) and Marvell Technology Group Ltd (NASDAQ: MRVL) announced the development of a new System-on-a-Chip (SoC) for the enhancement of the 5G network performance.

* The SoC, which would be used in Samsung's Massive MIMO and other advanced radios, was slated for market introduction to Tier One operators during the second quarter of 2021.

* The new SoC was prepared to support 5G and 4 G's simultaneous networking and save up to 70% in chipset power consumption compared to previous solutions.

* Last year, the companies announced a partnership to develop new 5G products, including innovative radio architectures to address the compute power required for Massive MIMO deployments.

* Price action: MRVL shares traded lower by 2.94% at $43.92 on the last check Thursday.