Wireless revenue down for TI

Texas Instruments is hurting when it comes to wireless chips. The company reported yesterday that while its overall first quarter profit was up 28 percent, its revenue from chips used in cell phones and other wireless products was down 18 percent from the fourth quarter.

TI reported a first quarter net profit of $662 million, or 49 cents a share, compared with $516 million, or 35 cents a share, in the year-earlier period.  However, the firm noted that its cell phone sales were weaker, particularly in the high-end cell phone market. The chip giant said it expects second-quarter revenue of $3.24 billion to $3.5 billion. Analysts had expected the company to report revenue of $3.46 billion.

For more:
-  see this New York Times story  

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Texas Instruments lowers profit forecast. Texas Instruments report