#Samsung Electronics, the world's largest memory chip maker, said Thursday it has developed the industry’s first 24-gigabit GDDR7 DRAM, set for a market debut early next year.

Compared to the previous 16Gb GDDR7 DRAM, the new chip has improved capacity, performance and power efficiency, the company said.

Samsung applied 12 nanometer-class processing technology to increase cell density within the same package size, achieving a 50 percent increase in capacity compared to the predecessor.