FLAGGING ECONOMY:The firm is aiming to ship 400 million smartphone chips this year, down from 450 million, and has cut its revenue guidance by between 5 and 10%

Taipei Times
Date: Aug 01, 2015
By: Lisa Wang  /  Staff reporter

MediaTek Inc (聯發科), which supplies chips to Chinese handset brands such as Xiaomi Corp (小米), yesterday slashed its smartphone chip shipments target by more than 10 percent as intensifying price competition and a flagging global economy take their toll on demand.

As a result, MediaTek expects revenue this year to shrink by between 5 percent and 10 percent from last year’s NT$213.06 billion (US$6.72 billion), company vice chairman and president Hsieh Ching-jiang (謝清江) told investors.     [FULL  STORY]