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Fabless manufacturing is the design and sale of hardware devices and semiconductor chips while outsourcing their fabrication (or fab) to a specialized manufacturer called a semiconductor foundry. These foundries are typically, but not exclusively, located in the United States, China, and Taiwan.[1][2][3][4] Fabless companies can benefit from lower capital costs while concentrating their research and development resources on the end market. Some fabless companies and pure play foundries (like TSMC) may offer integrated-circuit design services to third parties.