The combined revenue in February reached 14.161 billion yuan, which decreased by 12.81% monthly due to working days, but increased by 11.43% compared with February 2018. The legal person pointed out that with the upcoming launch of new machines by Chinese mainland brands in the second quarter, the new chip P90 will be expected to gradually increase shipments in March, coupled with continued shipments of existing growth products.
According to the legal person's estimate, March revenue will have the opportunity to challenge 20 billion yuan again, which will drive the first quarter revenue to reach the intermediate level of financial forecast.
Joint Development Section announced a combined revenue of 14.161 billion yuan in February, totaling 30.403 billion yuan in the first two months of 2019, an increase of 2.91% over the same period in 2019. The legal person pointed out that the first quarter of MediaTek was mainly due to the strong delivery of Amazon Intelligent speaker Echo series products, coupled with the smoothly delivery of set-top box products, which led to the annual growth of performance report cards.
With the arrival of March, we have completely eliminated the disadvantageous factors of the Chinese New Year holidays and short working days, and have the opportunity to start slowly warming up the performance of mobile chip shipments. According to the legal person, the mainland mobile phone brand is expected to bring out new mobile phones in the first half of this year and have the opportunity to enter OPPO, Vivo and other brands. It is expected that the new chip P90 of MediaTek will also start to improve the shipment momentum.
According to the previous law of the United Development Section, the consolidated revenue in the first quarter will decrease by 12-20% to 48.7-53.6 billion yuan. Now, the consolidated revenue in the first two months of 2019 has reached 30.403 billion yuan. The legal person estimates that the combined revenue in March will have the opportunity to challenge the breakthrough of the $20 billion barrier, which will drive the first quarter revenue of the United Development Section to fall in the middle level. The United Development Section does not comment on the estimated financial figures of legal persons.
In addition to the continuous sprint of mobile chip business, MediaTek is also actively promoting growth-oriented product businesses such as special application chips and power management IC. The legal person pointed out that the 56G PAM4 SerDes Silicon Intelligent Finance, which passed the 7-nanometer Process Certification in 2018, had the opportunity to start delivering quantities in 2019 and to note the growth of ASIC performance, while the power management IC had the opportunity to benefit from the decrease of the proportion of American manufacturers by the mainland mobile phone brands. As a whole, the business development of growth products in 2019 is not underestimated by the market.