Both Samsung Electronics Co. and SK hynix Inc. claimed Monday to have developed the next-generation mobile DRAM (dynamic random access memory) chip with twice-as-fast speed than the existing model.

Dubbed the new LPDDR4 (Low Power DDR4), the product is the industry's first eight-gigabit memory chip using 20 nanometer technology with a speed of 3,200 megabits per second (Mbps), two times faster than the 1,600 Mbps of its predecessor LPDDR3, the companies said.

The two South Korean tech giants each claimed that they have developed the world's first LPDDR 4 on Thursday.

The latest DRAM chip can run on a relatively small power of 1.1 volts, lower than the 1.2 volts of the existing LPDDR3, they said.

Its mass production will start in the second half of 2014.

Samsung, the world's largest manufacturer of computer memory chips, said it will focus on the premium mobile devices and ultra-slim notebooks with the new chip.

SK hynix said the new mobile DRAM will be applied in flagship mobile devices starting next year and gradually expand its presence to become the industry's leading product by 2016.

"The company will further strengthen its competitiveness in the mobile area with the development of high density, ultrahigh speed and low power consuming products," it said. (Yonhap News)