TSMC (Taiwan Semiconductor Manufacturing Company) has begun the development of next-generation 22-nm process technology, slated to begin mass production by 2011 at the earliest, according to the Economic Daily News on April 23. Meanwhile, the company also plans to begin mass production of chips based on its 28-nm process technology in the first quarter of 2010, while begin shipment for 32-nm chips by the year-end 2009. Thus far, the company has invested up to NT$15 billion (US$445.1 million; US$1 = NT$33.7) in equipment in order to ramp up its 40-nm chip production. In order to cope with these production expansion plans, the company will expand its R&D team by recruiting around 400-500 R&D personnel, according to the same source.