MediaTek's first-quarter 2015 revenues are likely to only meet the low-end of the company's guidance, due mainly to disappointing sales of entry-level and mid-range smartphones, according to industry sources.

However, MediaTek is expected to post revenue growth of 10-20% sequentially in the second quarter of 2015, buoyed by rising shipments for 4G smartphones, said the sources. Shipments of the company's 4G smartphone chips will climb to more than 10-12 million units a month in the second quarter, up from 7-8 million units in the first quarter, the sources indicated.

MediaTek estimated previously that consolidated revenues for the first quarter of 2015 would be between NT$45.5 billion (US$1.5 billion) and NT$49.9 billion, representing a sequential decline of 10-18%. The company has not provided revenue guidance for the second quarter.

MediaTek has reported revenues of NT$27.135 billion for the first two months of 2015, down 5.4% compared to a year ago.