Texas Instruments Gets Out Of Mobile Chip Business
Texas Instruments (TXN) rose a fraction Thursday, a day after the chipmaker announced that it is shutting down its mobile processor business. TI is getting out of the business of making chips for smartphones and tablets to focus on more profitable markets like chips for cars and home appliances. TI will eliminate 1,700 jobs, or nearly 5% of its global workforce, in the move. TI has lost ground in the mobile processor market to Qualcomm (QCOM) and
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