MediaTek Inc. reported a decline in monthly revenue as demand for mobile phone processors weakened, though the company remains optimistic about its premium smartphone chip business.
The Taiwanese chipmaker’s November revenue fell 11.4% from October to NT$45.2 billion ($1.43 billion), ending two consecutive months of growth. Despite the drop, the figure still represented a 5% increase from a year earlier.
The company’s sales for the first 11 months of 2023 reached NT$488.9 billion ($15.5 billion), up 25.4% year-over-year. MediaTek expects fourth-quarter revenue between NT$126.5 billion and NT$134.5 billion, suggesting a range between a 4% decline and 2% growth from the previous quarter.
The firm’s flagship Dimensity 9400 processor is driving revenue growth in the high-end smartphone segment, helping offset weaker seasonal demand in mid-range and entry-level products. MediaTek raised its growth forecast for flagship smartphone chip revenue from 50% to over 70% annually.
While economic uncertainties persist, particularly in China, MediaTek sees continued momentum in WiFi 7 and 10GPON networking products. The company is also gaining traction in automotive cockpit chips, especially among top-tier Chinese carmakers.
