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Following Apple’s announcement on Tuesday that the iPhone 5s will sport a 64-bit A7 processor, Samsung has apparently decided to follow suit, and plans to implement the same technology in its next generation of Galaxy smartphones, likely starting with the Galaxy S5. The Korea Times reports that Samsung co-CEO JK Shin announced the news at a weekly meeting of chief executives.

Shin also seemed to imply that, with the Galaxy Note 3 announced just last week, we likely won’t see a new Galaxy smartphone for some time. The 64-bit processor won’t be implemented soon but in Samsung’s “next smartphones,” Shin said.

Samsung also took note of Apple’s planned push into China with the iPhone 5c, telling The Korea Times that the move will mean “fiercer” competition in the Chinese market. However, the South Korean company appears secure in its belief that the combination of cheaper price points, more options and established relationships with local retailers should be enough to fend off the new iPhone.