NTT DoCoMo, Fujitsu, NEC and Panasonic are discussing a joint venture with Samsung that could be created as early as next year, Reuters reported recently. The companies will develop new smartphone baseband chips in an attempt to compete directly with Qualcomm, which currently has an 80% grip on the baseband chip industry. NTT DoCoMo will be the majority owner in the Japan-based joint venture and the total investment is expected to be about $390 million. The joint venture will help each firm cut down procurement costs. Samsung has considered using the new chips in its future family of GALAXY-branded handsets, but the group will also sell the new chips to other smartphone manufacturers. NTT DoCoMo, Fujitsu, NEC, Panasonic and Samsung have not yet announced formal plans for the venture.