Taiwanese fabless chipmaker MediaTek has announced its consolidated revenue for the year 2023, reporting NT$433.4 billion (US$13.82 billion) in revenue. The company’s gross profit for the year was NT$207.38 billion, marking a 23.5% year-over-year decline, while the gross margin stood at 47.8%, down 1.6% from the previous year. MediaTek’s net income for 2023 was NT$77.19 billion, indicating a 34.9% decrease compared to the previous year.
In the fourth quarter of 2023, MediaTek’s revenue reached NT$129.6 billion, reflecting a 17.7% increase from the previous quarter and a 19.7% rise year-over-year. The company attributed this growth to improved demand for smartphones.
Looking ahead, MediaTek anticipates a first-quarter sales increase of 27-35%, projecting revenue between NT$121.8 billion and NT$129.6 billion. The company foresees sales growth for the entirety of 2024, although it acknowledges that geopolitical uncertainties may impact its ability to provide a precise forecast at this time.
During an earnings call on Wednesday, MediaTek CEO Rick Tsai commented on the global smartphone market, forecasting low single-digit percentage growth in global smartphone shipments for 2024, reaching around 1.2 billion units. Tsai noted that generative AI is driving demand for smartphone upgrades, leading to a larger market for flagship and high-end smartphones.
MediaTek’s performance in 2023 reflects both the challenges and opportunities present in the global semiconductor industry. The company remains optimistic about its future growth prospects, despite the uncertainties posed by geopolitical factors, emphasizing its commitment to innovation and adaptation in a rapidly evolving market.
(Source: Seeking Alpha | Nikkei Asia | Taiwan News)
