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MediaTek's revenue hit hard in January, hopes to reverse the situation in the second half of the year!

Update time : 2023-02-13 10:35:30

MediaTek, the leading IC design company, announced its latest revenue for January, which declined severely as expected under the impact of the traditional low season and weak market conditions.

MediaTek's January revenue was NT$22.383 billion, down 42.14% month-on-month and 48.55% year-on-year.
MediaTek's Q1 revenue forecast set last week was between NT$93 billion and NT$101.7 billion. From January's figures, it is clear that February to March will need to deliver an excellent rebound performance before the lower edge of revenue is expected to be reached, however, judging from the situation in the second half of 2022 for both quarters, MediaTek was able to recognize high revenue in the last month of the quarter to reach its financial forecast target, said people familiar with the IC design industry. Sources familiar with the IC design industry said that MediaTek's revenue trend should remain the same every quarter until market demand really recovers.
MediaTek mentioned at last week's conference that most of its customers are conservative about market demand and prudent inventory management, and their inventory levels are close to normal levels. The company believes that demand will gradually improve over the next few months and that the business will have a chance to improve in Q2.
Of course, this does not mean that mobile phone sales have really heated up, but at least they are gradually returning to normal, which will be of great help in the further de-stocking of inventory.
However, although it is confident that market conditions will gradually recover, MediaTek is still unable to give a clear outlook for 2023 at this stage, and only proposes that the gross margin level in the first quarter will be the target for the whole year. MediaTek emphasized that the company will continue to observe the changing market conditions to formulate the subsequent operational guidelines.

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