MediaTek has announced consolidated revenues of NT$19.01 billion (US$580 million) for August 2015, up 6.1% on month but down 3.3% on year.

MediaTek's cumulative 2015 revenues through August decreased 5.4% from a year ago to NT$131.5 billion.

MediaTek estimated previously that revenues would grow a modest 10-18 sequentially to NT$51.7-55.5 billion in the third quarter of 2015. Unfavorable economic conditions and a more competitive market for handset chips led to the less-optimistic outlook, the company said.

MediaTek reported lower revenues and profits for the second quarter of 2015, due to decelerating handset demand and intensifying price competition among chipmakers. At its most-recent investors meeting, the company also cut its handset-use and tablet-use IC shipment targets for 2015 by 10%.