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Taiwan’s MediaTek reports NT$433.4 billion in sales for 2023

MediaTek says 4Q23 revenue was NT$129.6 billion, up 19.7% year-over-year

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(MediaTek image)

(MediaTek image)

TAIPEI (Taiwan News) — Fabless Taiwanese chipmaker MediaTek reported consolidated revenue of NT$433.4 billion (US$13.82 billion) for 2023 on Wednesday (Jan. 31).

Gross profit was NT$207.38 billion, down 23.5% year-over-year, while gross margin was 47.8%, a decline of 1.6% from a year earlier, MediaTek said. It added that net income last year was NT$77.19 billion, representing a 34.9% year-over-year contraction.

MediaTek said 2023 fourth-quarter revenue was NT$129.6 billion, up 17.7% from the previous quarter and 19.7% year-over-year. It added that the increases were primarily driven by improved smartphone demand.

Looking ahead, MediaTek is forecasting first-quarter sales will grow 27-35%, between NT$121.8 billion and NT$129.6 billion, according to Nikkei Asia. The company said it expects sales to grow in 2024, but that geopolitical uncertainties make it difficult to provide a specific forecast at this point.

MediaTek CEO Rick Tsai (蔡力行) said during a Wednesday earnings call that global smartphone shipments in 2024 are forecast to see low single-digit percentage growth to around 1.2 billion units, per Nikkei Asia.

“We also observe that generative AI is driving smartphone upgrade demand and (creating) a bigger market for flagship and high-end smartphones,” Nikkei Asia cited Tsai as saying.