Blaming Nokia, Texas Instruments forced to cut revenue, earnings forecasts

Blaming Nokia, Texas Instruments forced to cut revenue, earnings forecasts
Citing a huge drop in sales from Nokia, Texas Instruments was forced to cut its revenue and earnings forecasts last night.

Outside of the mobile phone business, however, TI said all other sectors of their business were performing up to expectations.



TI warned that revenue from its wireless baseband chips were hurt thanks to Nokia, its biggest client, which continues to struggle and has fallen so far that it has become the source of takeover speculation.

The numbers will prove to be a temporary blip, regardless, as TI has already said it will phase out its baseband business by the end of next year.

While baseband was still a significant amount of overall revenue (6 percent), it was a steep fall from the 12 percent it represented last quarter.

Written by: Andre Yoskowitz @ 9 Jun 2011 21:07
Tags
Nokia Texas Instruments Baseband
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  • 2 comments
  • biglo30

    Damn you nokia lol

    10.6.2011 10:32 #1

  • blueboy09

    So why can't they get an agreement with those many phone manufacturers like HTC, Motorola, etc? You would think they would look elsewhere,especially if they saw the tell tale signs that something wasn't right with Nokia. - BLUEBOY

    Chance prepares the favored mind. Look up once in a while and you might learn something. - BLUEBOY

    11.6.2011 13:00 #2

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