MediaTek has reported consolidated revenues of NT$7.53 billion (US$250 million) for October 2011, down about 5% sequentially and hitting the lowest monthly level since July.

MediaTek estimated consolidated revenues at NT$22.9-24.5 billion for the fourth quarter, showing a 2-5% decrease from the prior quarter. Judging from the guidance given, the company should see sales rebound in November and December allowing it to attain the sales target.

MediaTek's consolidated sales for the first 10 months of 2011 arrived at NT$71.73 billion, slipping 26.9% from a year earlier.

Previous reports quoted market observers as saying MediaTek might see its sales decline over 20% in 2011 with profits being halved from 2010 levels. MediaTek has not yet given its sales guidance for 2011.

MediaTek supplies chips for Lenovo's A60-series smartphones and other low-priced smartphones targeted at the China market. MediaTek also provides chipset solutions for TV and optical storage applications, as well as wireless communication devices such as Wi-Fi solutions and those supporting Bluetooth, GPS, xDSL and Ethernet technologies, as a result of its takeover of Ralink Technology.