Beancounters at market research firm Strategy Analytics have added up the numbers and divided by their shoe size and worked out that the industry has a new number two.
While everyone knows that Qualcomm, has near total dominance of the high-growth LTE baseband segment in the past and had a 95 per cent share in 2013 a battle has been going on behind the scenes.
Other LTE baseband suppliers had too little of a share to be ranked behind Qualcomm, MediaTek had enough of an impact in the market in 2014 to get a second-place ranking from Strategy Analytics.
The research firm predicted that MediaTek will continue to gain shares in the LTE baseband segment thanks to increased traction in China, the world's biggest smartphone market.
"Growing revenue contributions from LTE basebands will lift MediaTek's baseband revenue share over the next few quarters," said Christopher Taylor, director of the Strategy Analytics RF and wireless component service.
In 2014 revenue from LTE baseband sales overtook revenue from 3G baseband sales for the first time, thanks to a strong push from the industry, the research firm said.
The global market for cellular baseband processors, which are used in mobile devices to process wireless communication, grew an impressive 14.1 per cent year-over-year to reach $22 billion in 2014.
Qualcomm, MediaTek, Spreadtrum, Marvell and Intel grabbed the top-five cellular baseband revenue share spots in 2014, the research company said.
Qualcomm had a 66 per cent revenue share of the cellular baseband processor market, followed by MediaTek with a 17 per cent share and Spreadtrum with a 5 per cent share, according to Strategy Analytics.