5G chip share surpasses Qualcomm to become the world's largest! MediaTek's revenue in the first half of the year increased by 34.5%

On July 11, according to the June 2024 and second quarter financial report recently released by MediaTek, its consolidated revenue in the second quarter was NT$127.27 billion (approximately RMB 28.4 billion), a decrease of 4.6% from the previous month and an increase of 29.7% from the same period last year, which was better than previously expected.

In the first six months of 2024, MediaTek's cumulative revenue reached NT$260.73 billion, an increase of 34.5% over the same period last year.

At the same time, the latest report released by market research firm Omdia shows that in the first quarter of 2024, 5G smartphones equipped with MediaTek processors accounted for as much as 29.2% of the global 5G smartphone market, ranking first.

Qualcomm ranked second with a 26.5% share, followed by Apple, Samsung, Google, Huawei and Unisoc, with a combined market share of 17%.

Omdia analysis shows that the reason why MediaTek was able to surpass Qualcomm in the 5G smartphone processor market is mainly due to the increase in its shipments of 5G smartphones in the sub-US$250 range, in which MediaTek holds a dominant position.

Statistics show that shipments of 5G smartphones priced below US$250 will increase by 62% in the first quarter of 2024, from 8.7 million units in the same period of 2023 to 62.8 million units, which is very beneficial to MediaTek.