MediaTek's Q2 profit rises

MediaTek Inc's (聯發科技) second-quarter net income almost doubled as sales of DVD and other disc players that use the company's chips rose. Second-quarter profit for Tai-wan's second-largest chip designer rose to NT$2.6 billion (US$77 million) from NT$1.37 billion a year ago, lagging analysts forecasts. The results, which MediaTek did not announce, were calculated by deducting first-quarter profit from first-half earnings that the company sent to the Taiwan stock exchange. Sales rose to NT$6.79 billion from NT$2.98 billion. Sales of disc players powered by MediaTek chips will probably rise during the second half, investors said. "The back-to-school demand seems to be returning," said Agnes Chow, fund manager at Investec Asset Management Asia Ltd.