Aug. 1, 2012 (China Knowledge) - Taiwan-based MediaTek Inc, the largest chip designer in Taiwan by revenue, announced that its net profit for the second quarter of this year increased 0.9% from a year earlier to NT$3.36 billion or about US$111 million.

In the second quarter of 2011, the Taiwan-based company realized NT$3.33 billion in net profit.

Analysts earlier expected that MediaTek to suffer a net loss in the second quarter affected by the fierce competition in smart phone market.

In the three months ended Jun 30, the chip designer saw its operation revenue increased 11.7% YoY to NT$23.44 billion, which was mainly due to the growing smart phone chip demands in mainland China.