Texas Instruments is eliminating 1,700 jobs or almost 5 percent of its global workforce to cut costs in its wireless business as it moves away from making smartphone application chips, sending its shares up almost one percent in late trade.
The Dallas, Texas based chipmaker had said in September that it would halt costly investments in its OMAP mobile application chip business, which supports features like video, for tablet computers and smartphones.
TI has been under pressure in wireless, where it has lost ground to rival Qualcomm Inc and the world’s biggest smartphone makers Apple Inc and Samsung Electronics Co Ltd who have been developing their own chips instead of buying them from a supplier like TI.
Instead of pursuing the phone market TI is trying to sell OMAP in a broader market that requires less investments and includes industrial clients like carmakers…
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via Texas Instruments to cut 1,700 jobs to reduce costs | Reuters.
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Posted by Ara | November 24, 2012, 8:21 am