According to a report, Taiwan Semiconductor Manufacturing Company Limited (TSMC), which is the well-known chip maker for iPhones, is going to spend a record-breaking $2.2 billion on research and development this year with an eye to remaining ahead of the competition.

Last year, the world’s largest independent semiconductor company had spent just $1.067 billion on R&D. Currently, Samsung and TSMC are the two major producers for Apple-designed A9 and A9X processors for iPhones and iPads.

TSMC to spend US$2.2 billion on R&D in 2016

TSMC to Spend $2.2 Billion on R&D

As per sources, TSMS is preparing the A10 chip that Apple has planned to use in the upcoming iPhone 7 along with other iOS devices to be launched this year.

TSMC is reported to be the first chipmaker to have its 7nm process technology certified. Currently, TSMC’s 7nm boasts of 30-40% yield for 128MB SRAM.

“TSMC will be the industry’s first chipmaker to have its 7nm process technology certified. TSMC’s 7nm currently has 30-40% yield for 128MB SRAM. Among TSMC’s specialty process nodes, 55nm and 40nm ULP processes are targeted at IoT and wireless MCU applications. TSMC remains optimistic about the smartphone market. Software and hardware upgrades will continue to drive smartphone innovation,” Company co-CEO Mark Liu said.

iPhone 7 is scheduled to launch this fall. The next-gen iPhone is reported to have the same design as its immediate predecessor.

There are some new features like, Smart Connector, Dual Camera, Four Speakers that are expected to arrive on the upcoming smartphone.

There are so many concept designs of iPhone 7, which have been doing the rounds for quite some time. We have picked up the seven most gorgeous concept designs which you’d like to have a look at.

What’s your expectation from iPhone 7? Share your thoughts with us in the comment, on Facebook, Twitter, and Google Plus.