MediaTek could top Q3 sales goal: brokerage
CNATAIPEI--MediaTek Inc., one of Taiwan's leading integrated circuit designers, is expected to surpass its sales goal for the third quarter on the back of solid demand for smartphone chips, Daiwa Securities said Thursday.
August 30, 2013, 12:00 am TWN
In July, MediaTek sales rose 35.25 percent from June to NT$13.22 billion, the second-highest level in the company's history after NT$13.58 billion recorded in January 2010.
Daiwa Securities said that due to solid demand from China for smartphone chips, shipments of MediaTek's smartphone chips for August are expected to rise 5-10 percent from July to 22 million units, boosting its sales for the month.
The brokerage said that sales in July and August are expected to account for more than 70 percent of MediaTek's sales target of NT$34.9 billion-NT$37.6 million for the third quarter. It added that it is optimistic that the IC designer will achieve its sales goal without difficulty and even surpass the guidance.
MediaTek announced Aug. 27 that it had obtained conditional approval from China's Ministry of Commerce for a merger plan with small rival MStar Semiconductor Inc., which specializes in TV chip development.