Texas Instruments eyes broadband (DSL and cable):
"Ultimately, Engibous said Texas Instruments' broadband operation -- chips for cable and DSL modems for high-speed
connections to the Internet -- will be its second-largest vertical business behind its wireless business. ``But we're in
the very early stages'' of that industry, he said."
dailynews.yahoo.com
Texas Instruments eyes broadband
By Chris Kraeuter, CBS.MarketWatch.com
Last Update: 5:05 PM ET April 30, 2001
SAN FRANCISCO (CBS.MW) -- Texas Instruments' (TXN: news, msgs, alerts)
CEO says the challenges his company faces now will pay off by making it
stronger in the long term.
"The near term is still very unclear, but it will end,"
said CEO Thomas Engibous, addressing the
JPMorgan H&Q Technology Conference in San
Francisco. See conference coverage.
For this year, he said, the rapid growth of high-speed
Internet access services such as DSL will help as
other product areas slow down. "Broadband will be a
bright spot in an otherwise rough year," he said.
Engibous said the decisions he has made to lay off
2,500 workers, freeze hiring and cut capital spending
were "taken with a focus on being stronger." He said
he expects to emerge from the current economic
malaise with closer customer relationships,
research and development intact and important
company initiatives, like development of new 200mm
and 300mm wafers, intact.
Texas Instruments shares were up $1.72, or 4.7
percent, to $38.70 at the close.
Chris Kraeuter is a reporter for
CBS.MarketWatch.com in San Francisco.
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