MediaTek Predicts Revenue Growth of Up to 30% in Q3 2020

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MediaTek expects significant revenue growth for the third quarter of this year. According to a DigiTimes report, revenues will reach NT $ 82.5 – NT $ 87.9 billion (approximately $ 2.75 – $ 2.79 billion). This marks sequential growth of 22-30%, well beyond market expectations.The growth estimate comes as the company expected strong demand and healthy sales for its Dimensity line of 5G chips. MediaTek also expects its gross margin to be around 41.5-44.5% for the third quarter, which is roughly the same as the second quarter. In addition, Taiwanese chipmakers’ revenues for the first half of the year rose 12.4% while net profits jumped 33.33% year on year.

MediaTek has exceeded its initial financial forecast for the first half of 2020 and is expected to post a minimum annual increase in revenue of 15% and double its growth projection during this year, industry sources say. The CEO of the company said that the market for 5G handsets will reach 170-200 million units in shipments by the end of 2020, which will be complemented by the next MediaTek 5G chips in the second half of 2020.

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