LISTED Phoenix Semiconductor Philippines Corp. (PSPC) said it has secured a new contract with Samsung Electronics for the production of the latter’s memory products, although the chip maker remains “cautiously” optimistic on the recovery of the industry in the second half of the year.

In a disclosure to the Philippine Stock Exchange on Wednesday, the semiconductor firm said that while the existing Business Transaction Agreement (BTA) with Samsung provided for an extension until February next year, the parties have forged a new agreement which effectively renews its existing BTA for another three years beginning June 1, 2016.

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