IC design house MediaTek has reported June consolidated revenues increased 18.75% sequentially to NT$21.89 billion (US$715.9 million). Revenues for the second quarter of 2017 came to NT$58.08 billion, coming within the company's guidance of between NT$56.1 billion and NT$60.6 billion.

MediaTek's monthly revenues stayed below NT$20 billion in April and May, due mainly to disappointing smartphone demand in China. Revenues for June were the highest level in seven months.

MediaTek's revenues for the second quarter represented a 3.5% sequential increase. For the first half of 2017, the company posted revenues of NT$114.16 billion, down 11.1% on year.

Market watchers expect MediaTek to enjoy revenue growth of 15-20% sequentially in the third quarter of 2017, as the peak season for smartphones arrives. Brisk demand for MediaTek's LTE products will also make a positive contribution to the company's growth in the third quarter.