The company's monthly revenues started picking up in May, with revenues for the first half of 2018 reaching $3.601 billion.

Market watchers credited MediaTek's positive performance in the second quarter to the adoption of its 12nm Helio P60 series mobile chips by a number of China-based smartphone vendors including Xiaomi, Oppo and Vivo.

MediaTek's Helio P60 chipset.is among MediaTek's enhanced Helio P-series processor family that demonstrate artificial intelligence (AI) capabilities. AI will become an important smartphone feature, and AI chips are expected to play the main part in MediaTek's mobile SoC portfolio for 2018.

 TL Lee, head of MediaTek's wireless communication product business unit said MediaTek has expanded its AI-capable SoC lineup to include the Helio P60 and P22 chips, with the former series already adopted by several first-tier China-based smartphone companies. Industry observers believe MediaTek will introduce an upgraded version of the Helio P60 series at the end of 2018.

MediaTek expects to start regaining its market share and profitability as early as year end 2019, company chairman MK Tsai said during an investors meeting in June.