Samsung is reportedly talking to "all OEMs" as it looks to expand its Exynos brand.
Samsung said in a statement that no kind of deal with ZTE has been reached as of yet, but Kang - who is a former Qualcomm executive - noted that Samsung may well announce a new client for its Exynos chipsets in the first half of 2019.
China's ZTE is likely in Samsung's sights, according to the report, as the firm was recently slapped with a seven-year sales ban in the United States which means it's no longer able to obtain chips from American chipmaker Qualcomm.
Regardless of U.S. -China trade talks, Kang said Samsung will continue discussions with ZTE. This will lead to more direct competition with Qualcomm. According to reports Samsung are now in talks with multiple OEMs across the globe and a deal will be concluded in the near future.
According to Reuters, Samsung is only in talks with ZTE at this moment for supply of its Exynos chipsets.
Qualcomm also faces competition from Chinese companies such as Huawei Technologies [HWT.UL], which uses its own processing chips called HiSilicon in its flagship smartphones.
Samsung's System LSI business saw a 27 percent rise in shipments past year, Counterpoint says.
He said Samsung is in discussion with multiple automobile companies to develop chips for autonomous driving, declining to name the vehicle makers. However, nearly all of the semiconductor processors made by them are used for their own devices.
This meant, companies such as Qualcomm and Intel won't be selling chips to ZTE, and the company is looking for other suppliers such as Samsung.
The report noted that TSMC is now the world's top contract chip manufacturer, followed by Global Foundries, UMC and Samsung.
In recent years, Samsung's semiconductor business has been one of the major profit generators for the company, even surpassing Intel last year in terms of volume.
Memory chips contributed about 96 percent of the profits in the semiconductor business, while System LSI and foundry took up the rest with about 1.44 trillion in 2017 operating profits.