real-time news and commentary for investors
Friday, Jul 5
Taiwanese mobile chip giant MediaTek reports Q2 revenue of NT$33.28B ($1.1B), +42% Y/Y and...
Taiwanese mobile chip giant MediaTek reports Q2 revenue of NT$33.28B ($1.1B), +42% Y/Y and soundly beating guidance of NT$30B-$31.6B; shares rose 4.7% in Taipei in response. The numbers are another sign of surging demand for low-end/mid-range smartphones in China and other emerging markets, and could have implications for Qualcomm (QCOM -0.3%) and Spreadtrum (SPRD -1%), which MediaTek has been fiercely competing with for Chinese OEM design wins. They arrive as Samsung warns its Q2 op. profit will miss expectations following weaker-than-expected Galaxy S4 sales; a demand shift towards cheaper hardware is a likely culprit.