Consolidated sales at MediaTek slumped about 22% sequentially in November reflecting seasonal weakness.

MediaTek has reported NT$16.77 billion (US$538 million) in consolidated revenues for November 2014, down 22.4% from a record NT$21.6 billion in October.

MediaTek's fourth-quarter revenues might be able to only meet the low-end target of the company's guidance, according to market sources. Inventory adjustments at its smartphone clients in China have caused slow sales at the chip provider, the sources said.

MediaTek guided previously that consolidated sales for the current fourth quarter would reach NT$54-58.6 billion, representing a 6% sequential decline to a 2% increase from the third quarter.

MediaTek's cumulative 2014 sales through November amounted to NT$195.99 billion, rising 59.4% from the same period of 2013.