June 3 (Reuters) - Chipmaker Advanced Micro Devices announced a multi-year partnership with Samsung Electronics Co Ltd for the development of mobile graphics techology based on its AMD Radeon graphics chips.

AMD will license its custom graphics intellectual property (IP) to Samsung for use in mobile devices, including smartphones, and other products while Samsung will pay AMD technology license fees and royalties.

Shares of AMD rose 4% in premarket trading. (Reporting by Arjun Panchadar in Bengaluru; editing by Patrick Graham)