MediaTek is projecting a substantial revenue growth for Q3 2020. A DigiTimes report has revealed that MediaTek revenue will climb up to NT$82.5 – NT$87.9 billion (roughly $2.75 – $2.79 billion). This sums up to a 22 to 30 percent sequential growth, which is much more than was expected by the market.

This estimation is based on the company expecting high demand and healthy sales for its processors in its Dimensity lineups. The company also projects its gross margin to sum up to about 41.5 to 44.5 percent for the third quarter which is about the same as the gross margin for the second quarter. Also, the company’s revenue for Q1 2020 experience growth of 12.4 percent, and it also saw a year on year net profit 33 percent.

The Taiwanese chipmaker has exceeded its original financial guidance for Q1 2020 and according to the latest projections. The company will post a minimum annual revenue increase of 15 percent and double its growth projection in 2020 according to sources within the industry. According to the CEO of MediaTek, the 5G smartphone market will grow to 170 to 200 million units in shipments by the time the year runs out, which will be supplemented by 5G chipsets MediaTek currently plans to release later this year.

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