TSMC (Taiwan Semiconductor Manufacturing Company) expects to increase its global market share of 16nm chips to 70% in 2016, up from around 50% last year, thanks to major customers' increasing adoption of 16nm technology, reported Commercial Times on January 15. Meanwhile, the company continues to improve production yield of its 10nm process technology and deploy advanced 7nm and 5nm technologies. TSMC aims to start taping out 7nm chips in the first quarter of 2018 and prepare for volume production of 5nm chips in the first quarter of 2020. The company plans to raise capital spending this year to as much as US$10 billion, or a 23% hike from last year's US$8.1 billion, to ensure its technological leadership.