The outfit said it would tape out more than 50 chip designs with its 7nm process technology by the end of 2018, and over 100 chip designs with both its 7nm and enhanced 7nm with EUV nodes by the end of 2019.

TSMC expects 7nm chip sales to account for more than 20 percent of its total wafer revenues in the fourth quarter of 2018, and nearly 10 percent in all of the year. The proportion will likely exceed 20 percent in 2019 when the foundry expands its 7nm process portfolio to include an enhanced version with EUV.

Company CEO CC Wei told the assembled throngs at a investors meeting that the company will move EUV-based 7nm process node to mass production in 2020.

The majority of TSMC's 7nm chip output for 2019 will still be built using its first-generation 7nm process.

Apple, Huawei and Qualcomm will be TSMC's main handset chip customers adopting the foundry's 7nm process technology, while AMD, Nvidia, Xilinx and some AI chip developers are other significant clients of TSMC's 7nm process.

It looks like 7nm node manufacturing will be driving the foundry's revenue growth in 2019, thanks mainly to orders from Apple, Huawei and AMD. Qualcomm is set to return to TSMC for its high-end Snapdragon 800 series mobile SoCs next year.

In August 2018, Globalfoundaries stopped development of 7 nm chips citing cost and Intel's 10nm process has been delayed.

TSMC added that its 28nm process use rate has fallen below 90 percent, while its 7nm process is flat out. The global supply of 28nm chips has already exceeded demand, which the foundry believes is "an industry-wide phenomenon" which is expected to persist for a few years.

Looking into 2019, TSMC expects sales generated from all its target applications - smartphones, HPC, IoT and automotive electronics - to increase with the IoT and auto sectors likely to register double-digit increases. The foundry will also be enhancing its 22nm process offering to help fill its 28nm production capacity.