MediaTek's first-quarter revenues fell 18% sequentially but came in line with the company's guidance.

MediaTek has reported consolidated revenues of NT$20.81 billion (US$680 million) for March 2017, up 22.8% on month but down 2.4% on year.

MediaTek posted revenues of NT$56.08 billion in the first quarter of 2017, up 0.3% from a year earlier but down 18.3% sequentially. Nevertheless, revenues for the quarter came within the company's guidance range of NT$53.6 billion to NT$59.1 billion.

MediaTek vice chairman Ching-jiang Hsieh was quoted in previous reports as saying a seasonal slowdown in end-market demand, as well as the continued strengthening of the US dollar impacting emerging market growth, would drag down MediaTek's revenues in the first quarter of 2017. The company specializing in handset SoCs will continue to improve its product mix with new and cost-optimized solutions ready for mass shipments in the second half of 2017, according to Hsieh.

MediaTek reported revenues for the fourth quarter of 2016 decreased 12.4% on quarter but increased 11.3% on year to NT$68.68 billion, while its gross margin fell below 35%. The company posted record revenues of NT$275.5 billion for all of 2016, but the year saw a record-low gross margin at 35.6%.