MediaTek to pay employees NT$100,000 after sales reach milestone
Taipei, Jan. 14 (CNA) Taiwan-based MediaTek Inc., one of the leading integrated circuit designers in the world, on Thursday announced that it will pay each of its employees and the employees of its subsidiaries an additional NT$100,000 (US$3,571) after the company's consolidated sales for 2020 passed US$10 billion.
Addressing an online ceremony to celebrate the IC designer surpassing its sales target, MediaTek Chairman Tsai Ming-kai (蔡明介) said the company has reached a new milestone with its consolidated sales passing the US$10 billion mark, an achievement he attributed to the hard work of everyone at the group.
Tsai said MediaTek will pay an additional NT$100,000 to all 17,000 employees at the company and its subsidiaries such as power management IC product maker Richtek Technology Corp., wireless communications equipment Airoha Technology Corp., broadband chip provider Econet Co., and smart camera producer InnoFusions Technology Corp.
According to MediaTek, it will spend NT$1.7 billion rewarding employees worldwide.
On Monday, MediaTek reported consolidated sales for 2020 of NT$322.15 billion (US$11.51 billion), a historical high and up 30.84 percent from a year earlier.
The company benefited from an increase in shipments of 5G smartphone chips in 2020, while it also secured a higher market share in the 4G smartphone market during the year, analysts said.
In addition, the IC designer also saw demand increase for chips used in the Internet of Things and automotive electronics, further pushing up its revenue last year, analysts added.
In the fourth quarter MediaTek posted NT$96.41 billion in consolidated sales, down 0.89 percent from a quarter earlier on limited slow season effects, but at the high end of an earlier forecast of between NT$89.5 billion and NT$97.3 billion.
Tsai said that passing the US$10 billion mark in sales was a good start for the company, adding that he hoped all employees will continue to work hard to make MediaTek even more competitive in the market.
Analysts said MediaTek is expected to receive large orders from Chinese smartphone brands, such as Xiaomi, so the company should see slow season effects capped in the first quarter.
In 2021, MediaTek is expected to double shipments of 5G smartphone chips and post another new annual high for sales, analysts said.
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