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The world’s first smartphone to use Nvidia’s Tegra chip could be launched as early as the fourth quarter of 2009, believes Mike Rayfield, general manager of Nvidia’s mobile unit.

The Street reports that Samsung and Motorola are likely to manufacture the Tegra-based smartphone, and that this might have Android on board.

Designed for MIDs and smartphones, the Nvidia Tegra is a low power consumption chip which can provide high-res 3D graphics. The chip is reportedly used by Microsoft for the upcoming Zune HD portable media player.

Apparently, Nvidia will sell the Tegra chip to phone makers for up to $30 per unit. The chip will have to compete with chips made by industry veterans like Qualcomm and Texas Instruments.