Taiwan Semiconductor Manufacturing Co. (TSMC) Chairman Mark Liu, revealed that the firm could buy a memory chip company.

Speaking to Nikkei Asian Review on Sept. 6. Liu sais that his company "will not rule out the possibility of buying" a memory chip maker.

TSMC is the sole supplier of Apple's iPhone core processors. Liu has yet to reveal which company TSMC had set its eye out on.

The global memory chip market is currently dominated by Samsung, SK Hynix and Micron Technology. Industry watchers have said TSMC was unlikely to buyout those three factories. Taiwan is the world's most important production hub for memory chips, with Formosa Plastics Group's Nanya Technology, Macronix International Co., and Winbond Electronics Corp., as chief suppliers.

Nikkei Asian Review quoted market watchers for suggesting Nanya Technology, the world's fourth largest supplier in the industry, as a potential business or investment partner by TSMC. Teaming up with the world's third largest DRAM supplier Micron Technology Inc. is also a possibility. Nanya Technology, in response to the news, has denied knowledge of such an acquisition and refused to answer further questions.

Last week, Nikkei Asian Review also reported that Japanese semiconductor manufacturer Renesas Electronics has its eyes set on acquiring U.S.-based Integrated Device Technology, in hopes of expanding its footprint in the global automotive chips industry.

Aside from considering a potential buyout, Chairman Mark Liu also expects the firm's capital expenditures to "continue to grow" over the next few years. Investment projects will not be affected by the trade war between China and the U.S., he said.