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Mobile chip king MediaTek lowers outlook on expected smartphone dip

New foundry partner Intel reported a sharp drop in profit amid PC downtown

TAIPEI -- Leading mobile chipmaker MediaTek said on Friday it had lowered its full-year growth target as it predicted a decline in global smartphone shipments, warning that global macroeconomic uncertainties will hamper demand.

MediaTek CEO Rick Tsai said that given the uncertainty, its customers will continue to adjust their inventories for another "two to three quarters."

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