UPDATE 1-Avago expects strong revenue growth in wireless, telecom
* Sees fourth-qtr revenue $721 mln-$740.5 mln vs est $696.3 mln
* Third-qtr adj earnings/share $0.67 vs est $0.62
* Third-qtr revenue rises 6 pct to $644 mln vs est $623 mln
* Shares up 6.7 pct
Aug 27 (Reuters) - Chipmaker Avago Technologies Ltd forecast current-quarter revenue above expectations as it expects its wireless and telecommunication businesses to drive growth.
The company, which designs, develops and supplies analog semiconductors, said fourth-quarter revenue is likely to rise by 12 to 15 percent, implying sales of $721.0 million to $740.5 million. Analysts were expecting $696.3 million on average, according to Thomson Reuters I/B/E/S.
Avago shares rose 7 percent to $39.00 in extended trading.
Sources told Reuters earlier this year that Apple is expected to launch two new models this year -- widely referred to as the iPhone 5S -- along with a cheaper version in a plastic casing.
Foxconn Technology Group, a contract manufacturer for Apple , accounted for 17 percent of Avago's revenue last year.
Avago, which posted declining sales for the last three quarters, reported third-quarter revenue of $644 million, above analysts' estimates of $623 million.
Net income fell to $142 million, or 56 cents per share, in the quarter from $145 million, or 58 cents per share, a year earlier.
Excluding restructuring charges, acquisition-related costs and other one-time expenses, it earned 67 cents per share, according to Thomson Reuters I/B/E/S. Analysts had expected earnings of 62 cents per share.
The company counts Samsung Electronics Co Ltd, LG Electronics Inc and Huawei Technologies Co Ltd among its customers.