MediaTek India, a part of over $7 billion Taiwan-headquartered fabless semiconductor company, on Thursday said it may increase prices of all its products after two months. 

MediaTek India Director- Corporate Sales, Kuldeep Malik said the record fall of rupee against the US dollar is a case for concern.

"If this trend continues for the next two months, MediaTek India will also have to think of hiking the prices. There is no other option," Malik said.

The company provides chips for wireless communications, HD television, mobile devices and tablet computers, navigation systems, consumer multimedia products and digital subscriber line services as well as optical disc drives.

MediaTek is in intense competition with other chip manufacturing companies like Qualcomm, Intel and NVIDIA to expand its foothold in Indian market.

Malik said the company has one third of market share in smartphone and 40% of feature phones. "We are expecting more business from IoT devices, specifically smart speakers," he said.

Besides all leading mobile OEMs like Xiaomi, Oppo, Vivo, Karbonn and Micromax, the company has partnered IoT players along with Google, Facebook and application developers for its AI-based chipsets. 

"We are enabling more than 1.5 billion IoT devices annually, especially in the Narrow-Band IoT (NB-IoT) space. In India with more smart cities and digital India initiatives we are expecting more business," he said.