TSMC held a shareholders' meeting today. Liu Deyin, the board of directors, said that TSMC's revenue increased by 24% last year, and this year's revenue is expected to increase by about 30%. TSMC is entering a stage of high structural growth. In terms of capacity expansion, capital investment has been greatly increased. Most of its semiconductor manufacturing plants will continue to be located in Taiwan, and will also extend to the United States and Japan.
In terms of technology development progress, TSMC's N5 technology has entered its second year of mass production. Driven by smartphones and high-performance computing applications, N5 demand continues to be strong, accounting for 19% of overall wafer sales in 2021. TSMC has launched N4P and N4X process technologies, which are 11% and 15% higher than N5 efficiency respectively. N4X will be designed and finalized this year, and will be trial-produced in the first half of next year. The 3-nanometer technology is progressing well and will be mass-produced in the second half of this year, and the 2-nanometer is developed as planned, including a new transistor structure.
Recently, Apple's M3 chip was exposed, code-named Palma, using TSMC's 3nm process, and it is expected to be tape-out in the third quarter of next year, still using the EUV process.
In terms of production capacity, TSMC will ship 14.2 million 12-inch wafers in 2021, and 12.4 million 12-inch wafers in 2020. TSMC's 7nm and below advanced process technology sales will account for 50% of overall wafer sales in 2021, up from 41% in 2020.
In 2021, TSMC provides 291 different process technologies and produces 12,302 different products for 535 customers, accounting for 26% of global semiconductor output value, and 24% in 2020.