Japanese Toshiba and US GlobalFoundries plan to enter into a chip production outsource agreement, according to a January 25, 2011 report by Nikkei. As per the agreement, Toshiba is projected to outsource its fabrication of advanced system chips to GlobalFoundries. It is reported that negotiations between the two companies are approaching final stages. Toshiba plans to outsource chip production to GlobalFoundries and Samsung since 2010. GlobalFoundries is projected to produce Toshiba's chips utilizing the latest technologies, while Samsung is expected to handle low-cost fabrication of Toshiba's image-processing chips.