Long-term Value InvestorSmartphone chip giant MediaTek said visibility has improved and expects smartphone revenue to grow by 10%-16% in 2024. With improving consumer demand, revenue from flagship smartphone chips is expected to grow by over 50% this year. According to media reports, global smartphone shipments reached 1.2 billion units. The full-year gross margin is expected to be 46%-48%. MediaTek's Q1 gross margin was 52.4%, exceeding expectations and its own guidance, with net profit reaching NT$31.5 billion, surpassing the expected NT$23.5 billion. MediaTek expects Q2 sales to be flat or decline by 9% compared to Q1's NT$133.5 billion.$MediaTek(MTK.NA)
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