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TSMC tests 7-nanometer chips, edges ahead of Samsung

World's no.1 contract chipmaker will spend 'astonishing' amount on R&D

TSMC co-Chief Executive C.C. Wei spoke at the company's annual technology symposium on May 25. (Photo by Cheng Ting-fang)

HSINCHU, Taiwan -- Taiwan Semiconductor Manufacturing Co., the world's largest contract chipmaker, is testing cutting-edge 7-nanometer chips for 12 customers, and the company will start to make the product in large quantities in the first half of 2018.

Co-Chief Executive C. C. Wei at a company symposium on Thursday said TSMC is well-prepared to face intensifying competition from Samsung Electronics.

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