Beijing, Nov 12 (IANS): Taiwanese chipmaking giant MediaTek has finally become the largest smartphone SoC maker this year globally, CEO Rick Tsai said.

Tsai made that statement in a recent investor conference in Taiwan, GizmoChina reported on Friday.

"We are now the largest smartphone SoC maker globally. We continue to gain share across all regions of the world," the CEO said.

The company appears to have seen great growth, which has enabled it to expand outside of its previous dependence on Chinese customers. The CEO added that the brand's Android smartphone market share in North America alone will cross 25 per cent this year.

For those unaware, MediaTek sells chips to almost every smartphone OEM across the globe, with its Dimensity lineup of 5G processors even being offered to the flagship segment as well.

According to the report, the growth of the company can be attributed to its strong performance in the 5G segment that allowed it to become the market leader.

In the third quarter of 2021, the smartphone SoC's accounted for 56 per cent of its revenue. This was a sizeable increase of 72 per cent from the same period last year, with the robust rise being attributed to the growth of 5G and its market share gains.

Meanwhile, a recent report said that MediaTek is raising the prices for some of its smartphone chips that are in high demand.

The company has increased prices by 15 per cent for 4G chips and 5 per cent for 5G enabled chips. The primary reason for the hike in price is due to the increased cost of production from TSMC's foundry.