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MediaTek expects to post revenue growth of 12-20% sequentially in the second quarter of 2018, below market watcher estimates of 20% and more.

A pick-up in smartphone demand will drive the revenue increase, said the mobile SoC specialist, adding that combined shipments of its smartphone- and tablet-use SoC chips will rebound to 90-100 million units in the second quarter.

MediaTek forecast revenues for the second quarter will be between NT$55.6 billion (US$1.88 billion) and NT$59.6 billion, with a gross margin of 36.5-39.5%.

Smartphone demand weakness dragged down MediaTek's revenues in the first quarter of 2018, which fell 17.8% sequentially and 11.5% on year to NT$49.65 billion. A favorable product mix edged up the company's gross margin 1pp on quarter and 4.9pp from a year earlier to 38.4% during the same period, however.

MediaTek is striving to improve the gross margin of its smartphone SoC line, while shipments of its high-margin IoT and ASIC product segments continue to grow, according to company CEO Rick Tsai.

MediaTek generated net profits of NT$2.66 billion in the first quarter of 2018, down 73.8% sequentially and 59.9% on year, with EPS reaching NT$1.69. The company attributed the negative performance to "the one-off gains on disposal of investments" in the previous quarter and the same period last year.

Sales of its Goodix shares drove up MediaTek's non-operating profits to NT$9.45 billion in the fourth quarter of 2017. Recognized gains from the sale of its China-based subsidiary AutoChips also boosted the Taiwan-based fabless firm's net profits in the first quarter of 2017.

Mobile chips will outperform MediaTek's other product lines in terms of revenue growth during the second quarter, Tsai noted. MediaTek's overall smartphone-chip shipments for all of 2018 are set to be higher than year-ago levels, Tsai said.

As for its IoT and other high-margin chips, combined sales generated from the products are expected to register a double-digit on-year increase in the first half of 2018, Tsai indicated.

In addition, Tsai disclosed MediaTek will complete its planned merger with its wholly-owned subsidiary MStar Semiconductor on January 1, 2019 with the establishment of a new business group.