topleft
topright
Texas Instruments sees falling chip demand Print E-mail
Share This -
Digg
Delicious
Slashdot
Furl it!
Reddit
Spurl
Technorati
YahooMyWeb

NEW YORK (Reuters)—Texas Instruments Inc slashed its earnings and revenue outlook for the fourth quarter as demand fell for its chips, which are used in everything from cell phones to industrial equipment.


The company, which had already disappointed investors with its expectations announced in October, cut its forecast after its biggest customer Nokia had issued two warnings about cell phone demand in three weeks.


TI cut its earnings per share forecast to a range of 10 cents to 16 cents, from its earlier target of 30 cents to 36 cents, issued on Oct 20.

It now expects fourth quarter revenue of $2.3 billion to $2.5 billion, down from its earlier target of $2.83 billion to $3.07 billion and average analyst expectations for $2.89 billion, according to Reuters Estimates.


Analysts had feared a weak outlook from TI after cell phone leader Nokia had warned of decreasing global demand for mobile phones and rival chip makers STMicroelectronics and Infineon Technologies also cut their targets.


(c) Reuters 2008. All rights reserved. Republication or redistribution of Reuters content, including by caching, framing or similar means, is expressly prohibited without the prior written consent of Reuters. Reuters and the Reuters sphere logo are registered trademarks and trademarks of the Reuters group of companies around the world.




Comment on this article
RSS comments

Only registered users can write comments.
Please login or register.

 
Share This -
Digg
Delicious
Slashdot
Furl it!
Reddit
Spurl
Technorati
YahooMyWeb
< Previous   Next >




White Paper Library

Copyright © 2007-2014 CIOZones. All Rights Reserved. CIOZone is a property of PSN, Inc.