On Sunday, the Financial Times reported that following its Initial Public Offering (IPO) later this year, British chipmaker Arm Ltd intends to showcase the capabilities of its products by building its own semiconductor, as it looks to appeal to new customers and fuel new growth.

According to the FT report which cited people briefed on Arm’s intentions, Arm will develop the new semiconductor in conjunction with manufacturing partners. The report added that Arm has built a new “solutions engineering” team which will take the lead on developing the new prototype chips for mobile devices, laptops, and other electronic devices.

Citing industry executives, FT said the Softbank Group backed firm has come up with a new chip that it began creating in the last six months, which is “more advanced” than any it has helped develop before.

The report stated the company is at this point only working on a prototype, and has no plans right now to sell or license the product.

Arm has partnerships with major chip contract manufacturers, and is a major supplier of intellectual property to many chip companies, especially in the mobile phone sector.

Intel said earlier this month that it intends to work with Arm to ascertain that the mobile phone chips and other products that use Arm’s technology can be manufactured in Intel’s facilities.

Arm has had no comment on the report.