MediaTek has internally set a shipment goal of 480 million chips for smartphones in 2016 representing about a 20% rise compared to 2015, according to a Chinese-language Economic Daily News (EDN) report.

Among the shipment target, 250 million units will be for 4G smartphones surpassing those for 3G models for the first time, the report said.

MediaTek has issued a filing with the Taiwan Stock Exchange (TSE) saying it was not the source of the report.

MediaTek previously revised downward its shipment target for 2015 to 400 million units from 450 million, citing decelerating growth in smartphone shipments.