Nokia blamed for shortfall
Source: Agencies |
June 10, 2011, Friday
|
Print Edition
Print Edition
TEXAS Instruments has slashed its revenue forecasts and blamed the shortfall on major client Nokia's ailing cellphone business.
TI, the maker of chips for everything from cellphones to cars, warned in April that revenue from wireless baseband chips - the main chip in cellphones - had been hurt by weak sales at its biggest client.
Just last week, the Finnish cellphone maker, which had once dominated the global market, warned its second-quarter phone sales would be sharply below forecast.
Everything else remained on track for a strong second half, Ron Slaymaker, TI's head of investor relations, said.
Baseband chips represented 12 percent of revenue in the fourth quarter, but that would drop to about 6 percent this quarter.
An accelerating decline of the baseband business might be construed as good news. Investors would get a clearer picture of TI's growth businesses: the embedded processors and analog chips used in all types of products.
Gleacher analyst Doug Freedman said: "The sooner Nokia's business is out of the numbers, the better the investment community will be able to see the core growth,"
TI, the maker of chips for everything from cellphones to cars, warned in April that revenue from wireless baseband chips - the main chip in cellphones - had been hurt by weak sales at its biggest client.
Just last week, the Finnish cellphone maker, which had once dominated the global market, warned its second-quarter phone sales would be sharply below forecast.
Everything else remained on track for a strong second half, Ron Slaymaker, TI's head of investor relations, said.
Baseband chips represented 12 percent of revenue in the fourth quarter, but that would drop to about 6 percent this quarter.
An accelerating decline of the baseband business might be construed as good news. Investors would get a clearer picture of TI's growth businesses: the embedded processors and analog chips used in all types of products.
Gleacher analyst Doug Freedman said: "The sooner Nokia's business is out of the numbers, the better the investment community will be able to see the core growth,"
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