MediaTek today revealed that its consolidated revenue in January 2022 was NT$43.502 billion (about $1.55 billion), up 23.1 per cent year over year but down 5.8 per cent month over month. While the quarter is off to a rocky start compared to December 2021, MediaTek remains hopeful about the rest of the year.

The Taiwanese chipmaker forecasts revenue of NT$131.2 billion (about $4.7 billion) to NT$141.5 billion (approximately $5.1 billion) in the first quarter of 2022, up 2 per cent to 10% from the previous quarter and up 21 per cent to 31 per cent year-on-year (via IT Home).

Increased 5G penetration and the introduction of the flagship chip Dimensity 9000, according to MediaTek CEO Cai Lixing, are driving revenue, which can also offset the impact of low seasonal demand for some consumer products.

According to the financial report from 2021, MediaTek’s annual sales was NT$493.4 billion (about $17.6 billion) last year, a 53.2 per cent growth year over year and a new high. Similar growth was seen in the fourth quarter of 2021, with revenue reaching NT$128.6 billion (about $4.7 billion), up 33.5 per cent from the same period the previous year.

Overall, MediaTek is doing reasonably well, shipping more smartphone chips in China last year than Qualcomm. In 2021, MediaTek will ship 110 million devices, up from 77.4 million in 2020.