Apple said on Wednesday that Samsung Electronics will supply chips from its production plant in Austin, Texas, for Apple products including iPhones.

Samsung Electronics Co. will produce Apple Inc.'s next-generation chip at its chip foundry plant in Austin, Texas, the U.S. tech giant said Thursday. In a press release, Apple said it is working with Samsung at its semiconductor plant in Austin to develop an innovative new chip manufacturing technology

Apple said the technology "has never been used before anywhere in the world," and Samsung's Texas chip plant "will supply chips that optimize power and performance of Apple products, including iPhone devices,