IHS Isuppli said that Samsung "massively outperformed" the rest of the semiconductor industry, recording a 59.1 per cent increase in revenue in 2010, crn.com reports.
Overall, the semiconductor industry brought in $304.1 billion overall last year, which is up 32.1 per cent from $230.2 billion in 2009.
"The rise of Samsung is one of the biggest stories of the last decade in the worldwide semiconductor market," said Dale Ford, IHS analyst.
"Although they are mainly indirect competitors in the marketplace, Intel and Samsung have been ranked No. 1 and No. 2, respectively, for a number of years."
Furthermore, the report observed that Samsung's chip revenue has grown by 355 percent from 3.9 percent since 2001.
Founded in 1938, Samsung is a multinational conglomerate corporation headquartered in Seoul, South Korea.
