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Mobile handset boosts TI

Texas Instruments indicated a stronger-than-expected end to the year for mobile handset makers as it raised the lower end of its revenue estimates for the fourth quarter.

TI, which makes a range of chips for mobile phones, said it expected revenues of between $3.5bn and $3.66bn in the fourth quarter, compared to its estimate of $3.4bn to $3.68bn given in October at its third-quarter results presentation.

“Wireless customers were projecting [in October] that demand for the month of December would decline compared to October and November,” Ron SLAYMAKER, head of TI investor relations, told an analyst conference call Monday.

“But now they can see the levels sustaining through the month of December.”

TI’s biggest customer is Nokia, the number one handset maker.

TI predicted in October the slowing down of a 3G phone programme by another customer, Ericsson, would be a second contributing factor to a seasonally weaker fourth quarter.

Shares in TI rose nearly 5 per cent to $34.19 in after-hours trading on the improved forecast. The Dallas-based company’s position as the leading maker of mobile phone chips has been challenged this year by Qualcomm, as handset makers have sought to diversify in their choice of suppliers.

The iSuppli research firm is putting Qualcomm ahead of TI this year with its prediction of a 24 per cent increase in mobile phone revenues to $5.6bn. It expects TI, which makes chips for a number of other industries, to record a 3.4 per cent decline in global semiconductor revenues. TI said Monday it expected earnings per share of 50-54 cents in the fourth quarter, compared to the previous range of 48-54 cents.

Источник: Financial Times

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