MediaTek's 2024 Revenue Up 22.41%, Second-Highest Record

MediaTek, a leading chip design company, has announced its consolidated revenue for December 2024, totaling NT$41.683 billion (approximately RMB 9.229 billion), a year-over-year decrease of 4.57%. Despite the decline in monthly revenue, the company's consolidated revenue for Q4 2024 reached NT$138.043 billion (approximately RMB 30.563 billion), representing a 6.54% year-over-year increase. For the full year, MediaTek achieved a total consolidated revenue of NT$530.586 billion (approximately RMB 117.453 billion), marking a 22.41% year-over-year growth and the second-highest annual record in the company's history.

During its recent earnings call, MediaTek highlighted better-than-expected growth from its flagship products in 2024. This success was largely attributed to the widespread adoption of the Dimensity 9400 chipset by major brands such as Vivo, OPPO, and Redmi. The company also emphasized the role of cutting-edge technologies, including Agentic AI capabilities, integrated into flagship smartphones to simulate human-like decision-making processes, fueling robust smartphone sales growth.

MediaTek has further capitalized on emerging trends such as generative AI, Wi-Fi 7, and 10GPON upgrades. Its focus on enterprise-grade custom chips and automotive solutions has supported its medium-to-long-term growth strategy. Wireless and wired connectivity products have benefited significantly from the global transition to Wi-Fi 7 and 10GPON technologies, while MediaTek's tablet lineup saw improved revenue performance driven by the integration of generative AI features.

Looking ahead, MediaTek aims to seize growth opportunities in the custom AI accelerator market, which is projected to reach $45 billion by 2028. The company plans to continue advancing its enterprise-grade custom chip strategy while expanding its footprint in the automotive sector. MediaTek has recently made breakthroughs in this market, securing smart cockpit chip projects with leading Chinese automakers, further strengthening its position in the automotive space.