What is the expected increase in smartphone sales in the third quarter compared to last year 
n Faust -- Executive Vice President and Chief Financial Officer
Okay. So, end market drivers. Okay, Angela. Giel, would you like to address the end market drivers?
Giel Rutten -- President and Chief Executive Officer
Yes. Angela, let's try to summarize that. The main catalyst for growth is -- certainly in the third quarter is 5G communication, then IoT, specifically IoT wearables, generally automotive, and in automotive, we see strength in the driver assistance features and also in the automotive power domain, and then of course, high-performance computing in general. But if you look specifically into Q3, we see that the communication market is strong. We expect growth both in the volume of smartphones to be sold in the third quarter, as well as an increase in the number of 5G handsets to be sold. Comparing to last year, it is expected that this year 500 million smartphone 5G-enabled handsets will be deployed into the market, which is a doubling compared to last year, and that drives a significant semiconductor content where Amkor has a good position in the RF domain, but also in multiple other components in the 5G smartphones.
Megan Faust -- Executive Vice President and Chief Financial Officer
So, Angela, just to add to Giel's comments to give you some color, our 21% increase for Q3 at the midpoint are -- the last five years, we've had about 15% increase. So, that significant increase in Q3 we're expecting, as Giel mentioned, is led by communications. Typically, if you look back at our Q3 performance, you'd see around a 30% increase for communications, and we're expecting something around 40% for the communications market.
Any follow-up questions, Angela?
Angela Dai -- Credit Suisse -- Analyst
Yeah, sure. About your third Q gross margin guide, it's -- you briefly mentioned about some cost factoring in. Can you elaborate up on that? The mid-20% margin.
Megan Faust -- Executive Vice President and Chief Financial Officer
Yeah. Angela, are you speaking specifically to the Q3 guide for gross margin or specific to the Q2 actuals? I just wanted to make sure I addressed the right question.
Angela Dai -- Credit Suisse -- Analyst
Yeah. The 3Q guide.
Megan Faust -- Executive Vice President and Chief Financial Officer
Okay. Yeah. So, our mid point for the gross margin guide is flat sequentially, acknowledging revenue is expected to increase 21%. So, as you know, gross margin can fluctuate based on utilization or product mix. So, advanced SiP revenue is increasing significantly in Q3. As I mentioned, that is supporting the communications market. And advanced SiP does have a higher material content, and so that's what impacts product mix. However, our gross profit dollars are projected to be up over $50 million, or 20%, and operating income margin is expected to expand around 150 basis points sequentially. EPS is also expected to be up around $0.20, or 40%, to a record $0.70. So, overall, while the product mix can have an impact on gross margin percentage, advanced SiP is profitable, generating good results and cash flow. Any...
Angela Dai -- Credit Suisse -- Analyst
And a follow up around -- yeah, around your SiP pipeline. Can you give an update of your SiP pipeline, the revenue expectation for the full year? And do you see growing factoring multi-sourcing on some of the consumer audio [Phonetic] products?
Giel Rutten -- President and Chief Executive Officer
Thanks, Angela. Let me try to answer that question. I think with respect to our SiP pipeline, as we already mentioned earlier, we have a strong pipeline both in the communications segment as well as in the consumer segment. For communication, we see healthy growth in the third quarter. And, of course, we don't guide for the full year, but we expect that to extent in the fourth quarter also. For the consumer end market, we are ramping up several new products in the second quarter as well as in the third quarter. And we see continued strength there, proliferating in multiple products as well as in multiple customers there. So, going forward, we expect SiP to be an important produc
n Faust -- Executive Vice President and Chief Financial Officer
Okay. So, end market drivers. Okay, Angela. Giel, would you like to address the end market drivers?
Giel Rutten -- President and Chief Executive Officer
Yes. Angela, let's try to summarize that. The main catalyst for growth is -- certainly in the third quarter is 5G communication, then IoT, specifically IoT wearables, generally automotive, and in automotive, we see strength in the driver assistance features and also in the automotive power domain, and then of course, high-performance computing in general. But if you look specifically into Q3, we see that the communication market is strong. We expect growth both in the volume of smartphones to be sold in the third quarter, as well as an increase in the number of 5G handsets to be sold. Comparing to last year, it is expected that this year 500 million smartphone 5G-enabled handsets will be deployed into the market, which is a doubling compared to last year, and that drives a significant semiconductor content where Amkor has a good position in the RF domain, but also in multiple other components in the 5G smartphones.
Megan Faust -- Executive Vice President and Chief Financial Officer
So, Angela, just to add to Giel's comments to give you some color, our 21% increase for Q3 at the midpoint are -- the last five years, we've had about 15% increase. So, that significant increase in Q3 we're expecting, as Giel mentioned, is led by communications. Typically, if you look back at our Q3 performance, you'd see around a 30% increase for communications, and we're expecting something around 40% for the communications market.
Any follow-up questions, Angela?
Angela Dai -- Credit Suisse -- Analyst
Yeah, sure. About your third Q gross margin guide, it's -- you briefly mentioned about some cost factoring in. Can you elaborate up on that? The mid-20% margin.
Megan Faust -- Executive Vice President and Chief Financial Officer
Yeah. Angela, are you speaking specifically to the Q3 guide for gross margin or specific to the Q2 actuals? I just wanted to make sure I addressed the right question.
Angela Dai -- Credit Suisse -- Analyst
Yeah. The 3Q guide.
Megan Faust -- Executive Vice President and Chief Financial Officer
 Okay. Yeah. So, our mid point for the gross margin guide is flat sequentially, acknowledging revenue is expected to increase 21%. So, as you know, gross margin can fluctuate based on utilization or product mix. So, advanced SiP revenue is increasing significantly in Q3. As I mentioned, that is supporting the communications market. And advanced SiP does have a higher material content, and so that's what impacts product mix. However, our gross profit dollars are projected to be up over $50 million, or 20%, and operating income margin is expected to expand around 150 basis points sequentially. EPS is also expected to be up around $0.20, or 40%, to a record $0.70. So, overall, while the product mix can have an impact on gross margin percentage, advanced SiP is profitable, generating good results and cash flow. Any...
Angela Dai -- Credit Suisse -- Analyst
And a follow up around -- yeah, around your SiP pipeline. Can you give an update of your SiP pipeline, the revenue expectation for the full year? And do you see growing factoring multi-sourcing on some of the consumer audio [Phonetic] products?
Giel Rutten -- President and Chief Executive Officer
Thanks, Angela. Let me try to answer that question. I think with respect to our SiP pipeline, as we already mentioned earlier, we have a strong pipeline both in the communications segment as well as in the consumer segment. For communication, we see healthy growth in the third quarter. And, of course, we don't guide for the full year, but we expect that to extent in the fourth quarter also. For the consumer end market, we are ramping up several new products in the second quarter as well as in the third quarter. And we see continued strength there, proliferating in multiple products as well as in multiple customers there. So, going forward, we expect SiP to be an important produc