Top Taiwan chip designer MediaTek 'rapidly' shifts focus to autos, AI

FILE PHOTO: MediaTek chips are seen on a development board at the MediaTek booth during the 2015 Computex exhibition in Taipei, Taiwan, June 3, 2015. REUTERS/Pichi Chuang/File Photo

TAIPEI (Reuters) - Taiwan's top chip design company MediaTek is focusing more resources on chips for cars and AI computing as its smartphone clients face a supply glut and inflation and macroeconomic uncertainty dent demand for consumer electronics.

"We are definitely moving our resources very, very rapidly towards the automotive and computing areas, because those areas will provide our growth in the next three to five years," MediaTek Inc Chief Executive Rick Tsai told an earnings call.