Texas Instruments announce cuts in Forecast for Sales, Profit

Texas Instruments announce cuts in Forecast for Sales, Profit

Texas Instruments is the world’s biggest maker of semiconductors for mobile phones and the company seems to be struggling as they have just announced cuts in their forecast for sales and profits.

TI said that these cuts are mostly because of lower revenue from handsets.

The company said that they expect the sales to be around $3.35 billion to $3.5 billion. They had estimated these figures to be around $3.46 billion to $3.75 billion in October.

The profits are likely to be in between 37 cents to 40 cents a share. They had earlier said that this figure would be around 40 cents to 46 cents.

Company Vice President Ron Slaymaker said in a statement: “Things are broadly down from our expectations in October. We don’t believe we have bottomed yet.”