MediaTek has reported revenues of NT$19.27 billion (US$641.91 million) for July, up 22.7% sequentially and 45.8% on year. For the first seven months of 2014, revenues amounted to NT$119.41 billion, increasing 69.5% from a year earlier.

Meanwhile, MediaTek has raised its shipment target for smartphone solutions for 2014 to 350 million units, from 300 million forecast previously, according to a Chine-language United Evening News report.

MediaTek is expected to ship 12 million and 18 million 4G solutions in the third and fourth quarters, respectively, accounting for 12-13% and 18-20% of the chip vendor's total solution shipments in the two quarters, said the paper citing data from Barclays Capital Securities Taiwan.