Texas Instruments exits consumer phones, lays off 1,700
Texas Instruments is officially getting out of the consumer smartphone business, as major phone suppliers like Apple turn to internal chip designs.
"TI...will reduce costs and focus investments in its wireless business on embedded markets with greater potential for sustainable growth. Cost reductions include the elimination of about 1,700 jobs worldwide," TI said in a statement today.
While TI didn't mention any names, one of the most telling statements alluded to companies that are now designing their own chips. That would include Apple, which designs processors for its iPhone.
