PC and mobile chip maker Nvidia has forecast revenue figures for the first quarter of 2011 higher than analysts had predicted.
The company said that it expects to earn revenue of anywhere between $940 million and $957 million in the first quarter, whereas analysts expected the company to make around $889 million.
Nvidia has forecast high revenue based on rising sales of its processors for smartphones and tablet PC devices this year. The company has also been touting its strategic shift from PC chips to mobile chips.
“Tegra is positioned center stage in the revolution in super phones and tablets, while Tesla (high-end graphics chip familys) is becoming an essential processor for supercomputing. I have never been more excited about Nvidia's prospects,” Nvidia CEO Jen-Hsun Huang told analysts in a conference call, according to Reuters.
The company's Tegra 2 chips were a hit at the Consumer Electronics Show in January, and they announced on Wednesday that their newest processor, given the codename Kal-El and currently being sampled by customers, ought to be in smartphones and tablets later this year. Their intention is to release improved mobile processors about once per year.
Nvidia has been seen as a success story recently with shares in the company rising on Wall Street by over 50% since the turn of the year.