MediaTek Inc (聯發科), the nation’s biggest handset chip designer, said it planned to invest US$7.5 million in a Shanghai-based venture capital startup, the second local chipmaker to do so.
The Hsinchu-based chipmaker said in a filing to the Taiwan Stock Exchange on Friday that it would make the investment through its subsidiary Gaintech Co Ltd.
The world’s biggest contract chipmaker, Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), announced on May 25 that it would invest US$5 million in the venture capital firm, saying it hoped the investment would bring profits in the long term from China’s booming chip designing business.
The investment firm would have an initial capitalization of 340 million yuan (US$50 million), MediaTek said in its filing. The Chinese investment company has not registered for an official name.
MediaTek wants to gain a better understand of the Chinese chip market in order to capture more business opportunities, the Central News Agency cited an unnamed company official as saying.
MediaTek has a 60 percent share of China’s 2.5-generation handset chip market and 40 percent of its third-generation market, Credit Suisse has said.
Credit Suisse downgraded its rating on MediaTek to neutral from out-perform because growth was expected to slow amid intensifying competition, it said in a report last Wednesday.
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