MediaTek reported a strong end to 2020, with revenue and profit rising substantially year-on-year, as the Taiwanese chip maker grew its market share in 4G and 5G smartphones.
In a statement, MediaTek said its Q4 revenue grew 49 per cent to TWD96.4 billion ($3.4 billion), while net income hit TWD15 billion, up 134.3 per cent.
The company attributed the bulk of its profit rise to gains in 4G and 5G smartphone market share, along with sales increases in consumer electronics including Wi-Fi routers and TVs.
Operating expenses were also higher, up from TWD21.3 million in Q4 2019 to TWD27.5 million due to greater R&D investments and expenses related to its higher sales.
Indicators had pointed to the company registering strong gains: earlier this month, CINNO Research issued figures showing MediaTek displaced Qualcomm as the largest smartphone system-on-chip supplier in China during 2020.
The research company stated Qualcomm’s shipments fell 48 per cent, partly due to US restrictions on Huawei, which had allowed MediaTek to take the top spot after “explosive growth”.