News for MediaTek Inc. (2454.TW)

(Reuters) -Chip designer Qualcomm on Wednesday forecast sales and profit in the current quarter would exceed Wall Street estimates as the company benefits a wave of launches of flagship Chinese smartphones, and its shares rose 8.5% in extended trading. Qualcomm said it expects sales and adjusted profits for its fiscal first quarter, which will cover the holiday shopping season in U.S. and European markets, with a midpoint of $10.90 billion and $2.95 per share. For the fiscal fourth quarter ended Sept. 29, Qualcomm said sales and adjusted profits were $10.24 billion and $2.69 per share, beating analyst expectations of $9.91 billion and $2.56 per share.