SEOUL, Oct. 7 (Yonhap) -- Samsung Electronics Co., the world's largest memory chipmaker, said Friday that it is teaming up with Micron Technology Inc. of the U.S. to develop technology to produce a high-performance memory chip.

Samsung has formed a consortium with Micron Technology, the U.S.'s largest chipmaker, to jointly develop a so-called hybrid memory cube technique which stacks chips on top of one another, thus making the chips more efficient and faster at supplying data to computer processors.

According to Samsung, the technique will help move a lot more data with a lot less energy than what the traditional technologies use today, possibly realizing energy savings of up to 70 percent.