Qualcomm has been the leader in this market but MediaTek appears to be catching up fast. The new Meizu MX5 for example has the flagship Helio X10 processor from MediaTek.

Analysts at Strategy Analytics has said that while Qualcomm hasn't lost any share in this market, and still owns about 61 per cent MediaTek is emerging. The company holds about 18 per cent per cent with Spreadtrum, Samsung and Marvell making up the rest.

Strategy Analytics Associate Director Sravan Kundojjala stated that MediaTek had become a solid competitor to Qualcomm now, even though there's still a huge difference between the pair.

He expects that to continue to rise throughout 2015 and 2016, as MediaTek gets into more and more gear out there.