NEW YORK — Texas Instruments Inc. said Monday (April 21) its quarterly profit rose from a year ago after it lowered its guidance for the quarter, blaming weak demand for chips used in advanced cellphones.

TI, whose biggest client is Nokia, said profit rose to $662 million, or 49 cents a share, from $516 million, or 35 cents a share, in the year ago quarter.

TI said the latest quarterly numbers included a 6 cents per share tax benefit.

Revenue rose to $3.27 billion from $3.19 billion.

In March, TI forecast earnings per share of 41 cents to 45 cents on revenue $3.21 billion to $3.35 billion.

TI, a maker of chips for everything from televisions to industrial products, forecast second-quarter earnings per share of 42 cents to 48 cents on revenue of $3.24 billion to $3.5 billion.

Nokia disappointed investors last week when it said it expected the 2008 phone market to decline in terms of euros. (Reporting by Sinead Carew; Editing by Andre Grenon)