After releasing details about its 7nm and 10nm chip manufacturing plans, Samsung has announced that it will soon complete the development of its third-generation 14nm FinFET chip manufacturing process, and it plans to expand its customer base using the new technology.

System LSI, Samsung’s chip manufacturing division, will be able to use its third-generation 14-nanometer FinFET (Low-Power Compact) chip manufacturing technology by the end of this year. Chips manufactured using technology will consume less electricity and will be cheaper to make than the chips manufactured using its first and second-generation 14-nanometer FinFET technology.

Samsung has reduced the number of masks that are required to manufacture chip wafers, which results in lower power consumption. The company is already testing this process and has already shipped hundreds of thousands of wafers. Samsung’s LPC process will compete with TSMC’s 16-nanometer process in securing customers.