* Sees Q2 sales $840-$890 mln vs est $854.1 mln
* Sees Q2 EPS $0.26-$0.30 vs est $0.27
* Q1 adj EPS $0.23 vs est $0.20
* Q1 rev $796 mln vs est $768.7 mln
* Shares rise 5 pct after market
May 17 (Reuters) - Chipmaker Marvell Technology Group Ltd expects rising Chinese mobile phone sales and a post-Thai flood uptick in the hard-drive market to propel current-quarter results, sending its shares up 5 percent after the bell.
The company forecast a second-quarter profit of 26 cents per share to 30 cents per share, on revenue of $840 million to $890 million.
Analysts were looking for a profit of 27 cents on revenue of $854.1 million, according to Thomson Reuters I/B/E/S.
Marvell, which once counted Research in Motion Ltd as one of its top customers, last year struggled with its phone business as the BlackBerry maker lost its market share.
RIM's move to Qualcomm Inc and Texas Instruments Inc for some of its phones also added to Marvell's woes.
Marvell, which makes processing chips used in phones that run on the TD-SCDMA network, a technology widely used in the Chinese mobile phone market, said higher smartphone adoption in the Asian country has helped offset the RIM losses.
"We expect TD smartphone shipments to grow over 20 percent sequentially on top of the 25 percent increase in Q1," Chief Executive Sehat Sutardja said on a call with analysts.
The company also said that demand for controllers, used in hard drives, is also returning to normal levels after floods in Thailand threw production into a tailspin last year.
First-quarter profit rose to $95 million, or 16 cents per share, from $81 million, or 13 cents per share last year.
Excluding items, the company earned 23 cents a share, above the 20-cent profit analysts had expected, according to Thomson Reuters I/B/E/S.
Revenue fell slightly to $796 million from a year ago but topped estimates of $768.7 million.
The company said it will initiate a quarterly dividend of 6 cents per share and pump a fresh $500 million for share repurchases, taking its total authorization repurchases to $2.5 billion.
Marvell's shares rose 5 percent to $13.96 post-market. They closed at $13.30 on Nasdaq on Thursday.