Texas Instruments Cuts Outlook, Citing Nokia
Semiconductor maker Texas Instruments Inc. reduced its expectations for the second quarter because of weaker demand from wireless customer Nokia Corp.
TI’s lowered guidance, announced at the company’s midquarter update Wednesday, comes after Nokia last week sharply lowered its sales forecast. The Finnish handset maker, a big customer of TI chips, has been struggling to keep up in a smartphone market increasingly dominated by rivals like Google Inc. and Apple Inc.
