Looking to turn its mobile phones into an electronic wallet, Samsung has inked a deal to use Philips Electronics' Near Field Communication (NFC) contactless chip solutions in future devices.

NFC is a short-range wireless technology that enables devices equipped with the chips to communicate with one another. Samsung Senior Vice President JK Shin said the company has joined forces with Philips as part of its commitment to "change the way information and services are paid for, distributed and accessed by all consumers."

Phones equipped with the chips also will be able to connect with other NFC-enabled mobile phones, PCs or TVs to transfer digital photos or other types of data.

Samsung has yet to reveal which phones will include the technology or when they will hit the market. Nokia was the first handset manufacturer to purchase NFC chips from Philips.

Samsung initially will use the NFC technology in its mobile phones, but the potential is there to expand into its other product lines.