MediaTek adjusted the financial performance forecast for the current year: it is expected that the increase in revenue will be slightly lower than what analysts had previously called it.
In the second quarter of this year, MediaTek earned approximately $5.5 billion in income, an increase of 23.9% over the same period last year, when the revenue was $4.5 billion.
In 2022, the company as a whole expected to show an increase of 20%, but now the figure is 17-19%, and the gross margin is projected to be between 48% and 50%.
There are several reasons for the downward adjustment of the forecast: in particular, the employers of MediaTek and distributors are actively adjusting the stock, which may last for two or three blocks, and the current geopolitical situation and high inflation have led to a decrease in consumer activity.
MediaTek has also revised its forecast for the global supply of smartphones this year downwards to 1.2–1.2 billion. This is about 6% lower than the previous estimate. In 2022, 5G machines will account for about 50% of the total number of smartphones shipped.