MediaTek rallies as Vodafone picks chips for phones

Shares of MediaTek Inc (聯發科) rallied to nearly a two-year high yesterday after the nation’s biggest mobile phone chipmaker said European telecom operator Vodafone would use its chips for two new phones.

That may take MediaTek one step closer to its goal of increasing orders from major global mobile phone makers such as Nokia after the Hsinchu-based chipmaker built a strong market position in China by offering affordable chips to non-brand mobile phone makers.

Shares of MediaTek increased 2.32 percent, or NT$12, to close at NT$529 yesterday, the highest level since a high of NT$633 on Oct. 31, 2007. The benchmark TAIEX inched up 0.68 percent.

“We are particularly excited about the partnership with Vodafone, a prestigious mobile communications company with a reputation for top quality and a global presence,” MediaTek chief financial officer Yu Mingto (喻銘鐸) said in a joint statement released on Thursday.

“With both companies’ vision of providing the best product performance to their customers with competitive pricing, we see boundless potential in this strategic cooperation,” Yu said.

In the statement, Vodafone said it selected MediaTek chipsets for two of its new wireless devices.

One of them, code-named Vofafone 541, an entry-level handset equipped with a touch screen, is expected to be available in the European market, part of Vodafone’s efforts to stimulate Christmas mobile phone sales, MediaTek said.

At the end of June, Vodafone had approximately 315 million subscribers.

Last month, MediaTek said it reached a consensus with China Mobile Ltd (中國移動), the world’s biggest mobile operator by subscribers, to develop China’s 3G, or time-division synchronous code division multiple access (TD-SCDMA) technology and 4G technologies.

MediaTek has told investors that third-quarter revenues may expand between 15 percent and 20 percent from NT$28.15 billion in the second quarter, because of new orders and rising demand from Chinese customers ahead of China’s buying season beginning next month.
 
 
By Lisa Wang, STAFF REPORTER / Taipei Times

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I'm easygoing and sometimes sentimental, also can be very funny. Geek style but social. A Blogger, a Wikipedian and an Engineer.
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