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Texas Instruments sales to Nokia growing

TI’s Chief Executive Rich Templeton said the company has expanded its chip sales to Nokia Corp., even though the handset maker said in August it intends to diversify its supplier base.

Despite the strategy shift at the world's largest handset maker - and TI's largest customer -"we won additional business, and we believe we can grow our business at Nokia," Templeton said at an investor conference hosted by JPMorgan."I think that's a pretty strong statement," given the competitive environment.

Regarding smartphones, he said TI remains confident about its competitive position."It is going to be the fastest-growing market segment and will have the higher dollar content," Templeton said," so it really does matter to be winning in that space long-term."

Templeton reiterated TI's earlier guidance for 10% revenue growth and 15% earnings growth, with analog sales growing strongly at 20% and embedded processors at 10%. He declined to estimate the growth pace for wireless revenue.

TI continues to look cautiously at how the health of the U.S. economy might affect its business. However, it's being helped by strong growth in emerging economies, where "there's no sign of things slowing down, from all we can tell."

Shares in TI changed hands at $31.88 recently, down 2%, or 65 cents, on volume of 2.7 million shares.

Источник: Total Telecom

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