(Bloomberg) -- Taiwan's MediaTek Inc. expects surging sales of smartphone and smart-television chips to continue to fuel growth in the key market of India, the fabless chipmaker's country head said on Friday.
“Consumption has increased drastically in the last two years and that is the trend we see will keep going forward in the coming years,” MediaTek's India Managing Director Anku Jain told Bloomberg Television's Rishaad Salamat and Haslinda Amin.
MediaTek, which competes with Qualcomm Inc. in the worldwide smartphone-chipset market, dominates in devices below $200 and sees India as critical for growth. While the global smartphone market is sputtering because of cooling demand in China and Europe, rapid adoption of mobile apps and services is fueling sales in India.
India's move to auction 5G airwaves and launch more advanced wireless services will also push up demand for MediaTek's high-end chips, creating a large market opportunity, Jain said.
The company, which currently employs more than 700 engineers across two its research and developments centers in India, will hire more in the country, Jain added.
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