Market sources expect MediaTek to post revenue growth of 15-20% sequentially in the third quarter of 2015 compared with the 20-30% estimated previously. The revised projection came on the heels of recent comments made by MediaTek president Hsieh Ching-chiang about the chip market outlook

Speaking at a public forum focused on promoting IoT, Hsieh offered a more cautious outlook for the global chip market in the second half of 2015. A particularly weak third quarter due mainly to decelerating smartphone demand in China is likely to happen this year, Hsieh said.

MediaTek is scheduled to hold its quarterly investors meeting on July 31. Market observers are paying attention to the company's inventory status and whether its annual shipment target would be cut, as well as the company's perspective on China's smartphone market.

MediaTek has reported consolidated revenues of NT$47.04 billion (US$1.52 billion) for the second quarter of 2015, down 1% sequentially but meeting the company's guidance of NT$45.2-49 billion. MediaTek's revenues came to NT$94.58 billion in the first half of 2015, down 5.5% from a year earlier.