Samsung Electronics said Thursday that its next-generation memory chip set a world record on speed.

According to the South Korean tech giant, its LPDDR5X memory chip operated at 7.5 gigabits per second, the fastest speed among memory chips in the market.

Short for low power double data rate 5X, the LPDDR5X chip performed at the record speed on Qualcomm’s latest Snapdragon mobile platform. Unveiled in November, the chip was manufactured with 14-nanometer technology.

Compared to the previous model, the LPDDR5X offers speed 1.2 times faster. Also, the chip is applied with a low-power technology cuts power consumption by 20 percent.

“Based on our partnership with Qualcomm, Samsung Electronics will expand the application of LPDDR5X chips to sectors where low-power chips are in demand such as metaverse, automotive, game, augmented reality, virtual reality, high-performance PC and artificial intelligence,” said Han Jin-man, executive vice president and head of memory global sales and marketing at Samsung Electronics.

LPDDR5X is a next-generation mobile memory chip designed to boost speed, capacity and power savings for 5G applications. In 2018, Samsung Electronics delivered the industry’s first 8-gigabit LPDDR5 memory chip.