Texas Instruments lowers profit forecast

Texas Instruments lowered its range of expected profits for the first quarter of 2008 to between 41 cents and 45 cents a share, which is 3 cents lower than its previous forecast from January. Financial analysts were expecting about 46 cents per share. The company also lowered its sales forecast by $130 million--sales are now expected to be between $3.21 billion to $3.35 billion. TI has suffered since both Nokia and Sony Ericsson announced last year that they would buy their chips from other suppliers instead of just Texas Instruments. Despite the change, Texas Instruments says it remains Nokia's biggest supplier for chipsets.

For more on TI's wireless woes:
- read this article from the NYTimes

CORRECTION: The original version of this article incorrectly stated that Nokia and Sony Ericsson stopped buying chipsets from TI, when in fact they just announced plans to start buying from other chipset companies as well.