TI moves on from decision to exit smartphone chipsets

TI OPA192 Texas Instruments is optimistic about the year ahead as Q1 revenues edge upwards and profit jumps ahead of this time last year.

The chip maker is moving on from its decision to exit the mobile phone chipset business.

“Revenue and earnings for the quarter were in the upper half of the range we expected and marked a good start to the year,” said Rich Templeton, TI’s chairman, president and CEO.

TI is aiming for around 10% revenue growth in Q2.

“The outlook for the second quarter of 2014 is for revenue in the range of $3.14bn to $3.40bn,” said Templeton.

It is a year since TI decided to exit the smartphone chipset market, and focus on higher margin business in analogue ICs, microcontrollers and DSPs

“Gross margin of 53.9% remained strong and reflects the quality of our analogue and embedded processing portfolio,” said Templeton.

“Gross margin of 53.9% remained strong and reflects the quality of our analogue and embedded processing portfolio,” said Templeton.

“We delivered 3% year-over-year revenue growth, or 11% when legacy wireless revenue is excluded. Analogue and embedded processing comprised 84% of first-quarter revenue,” said Templeton.

First-quarter revenues were $2.98bn generating net income of $487m.

 

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