MediaTek Inc (聯發科) yesterday announced it would give incentive bonuses totaling NT$1.7 billion (US$59.7 million) to its employees and those at the firm’s major subsidiaries, after the smartphone chip supplier’s revenue hit US$10 billion last year.
This is the biggest incentive bonus the Hsinchu-based handset chip designer has ever distributed in its 23-year history.
About 17,000 full-time employees of MediaTek and five of its subsidiaries, including Richtek Technology Corp (立錡科技) and Airoha Technology Corp (絡達科技), would receive a “red envelope” of NT$100,000 each, the company said.
Photo courtesy of MediaTek Inc
“Surpassing US$10 billion is just the beginning. We will continue to [grow] on this basis,” MediaTek said in a statement.
MediaTek, which has about 10,000 employees in Taiwan, said it has also allocated 20 percent of its annual distributable earnings for local employees’ year-end bonuses.
MediaTek posted NT$322.15 billion in consolidated revenue last year, up 30.84 percent from NT$246.22 billion in 2019, a record for the company, as its 5G smartphone chips were adopted by a growing number of vendors.
LG Electronics Co and Chinese smartphone vendors, including Realme Mobile Telecommunications (Shenzhen) Co (銳爾覓移動通信), Xiaomi Corp (小米), Vivo Communication Technology Co (維沃) and Oppo Mobile Telecommunications Corp (歐珀), use MediaTek’s 5G Dimensity chips in their latest handsets.
MediaTek last quarter overtook Qualcomm Inc as the world’s biggest smartphone chipset supplier for the first time, as its affordable chips gained traction in emerging markets, a tally by market researcher Counterpoint showed.
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