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MediaTek to pay employees NT$160 million in sports day bonuses

MediaTek announced plans to hand out NT$160 million in bonuses to employees during its sports day Saturday

MediaTek might benefit from dispute between Apple and Qualcomm.

MediaTek might benefit from dispute between Apple and Qualcomm. (CNA photo)

Taipei, Nov. 18 -- Taiwan-based integrated circuit designer MediaTek Inc. (聯發科) announced plans to hand out about NT$160 million (US$5.31 million) in bonuses to employees during the company's sports day on Saturday.

At the event, which is also the firm's annual family day and celebrates the 20th anniversary of the company being established, MediaTek Chairman Tsai Ming-kai (蔡明介) said every employee formally hired before Sept. 30 will receive a bonus of NT$10,000.

According to MediaTek, about 16,000 employees are eligible for the sports day bonus. As with some other high-tech firms in Taiwan, MediaTek traditionally announces a cash gift to employees on its annual sports day to supplement year-end and quarterly bonuses and show gratitude to employees for all their hard work.

Tsai said he was delighted to see employees attend the sports day and also happy to see so many family members in attendance.

Tsai said he is grateful for the contribution made by employees to the success of the company as well as the support of their families.

Initially, MediaTek had about 20-30 employees, Tsai said, but now the company has grown into one of the top three IC designers in the world.

Tsai said employees are the company's most important assets so it is a matter of social responsibility to help them live better lives.

He said MediaTek has also decided to establish a kindergarten, which is scheduled to begin operations in 2019. He added such a facility would enable employees to feel more comfortable working for the IC designer, while the company will no doubt grow with employees and their children.

In the third quarter, MediaTek posted NT$5.06 billion (US$168 million) in net profit, up 129 percent from the previous quarter, with earnings per share (EPS) of NT$3.26, compared with NT$1.51 a quarter earlier.

However, Mediatek's third quarter net profit fell 35.4 percent from a year earlier and its EPS also dropped from NT$4.98 over the same period of last year.

Taiwan Semiconductor Manufacturing Co. (TSMC, 台積電), the world's largest contract chipmaker, announced on Nov. 4, the company's annual sports day, that it would pay about NT$456 million in bonuses to its employees.

Each of the 38,000 employees hired by TSMC before May 31 received a NT$12,000 bonus.