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TI affected by Nokia's lowered forecast
"The reductions are due to lower demand from a single wireless customer where most of our sales are baseband products", said Ron Slaymaker (VP Investor Relations at Texas Instruments) in a conference call.
The biggest customer in this group would be embattled Finnish mobile phone company Nokia.
However, the chip manufacturer also stated that it will focus efforts on its analog business - where it makes the most profit - and exit the wireless business all together.
Both companies have lowered their 2Q revenue forecast. However, Texas Instruments actually provides new targets - revenue between USD 3.36 and 3.50 billion. Nokia on the other hand states "net sales to be substantially below its previously expected range of EUR 6.1 - 6.6 billion (USD 9 - 9.6 billion)", without providing a new forecast.
