NATIONAL SEMICONDUCTOR (16-3/8, up 1-5/8 @ 10:10 ET) said it will
exit the PC processor business, and, as a consequence, cut 550
jobs and take up to $300 mln in charges as it focuses on chips for
new smart devices. "We will immediately cease slugging it out in
the PC processor market, which has been dragging down our
financial performance for several quarters," Brian Halla,
chairman, president and CEO of National said. "By contrast, the
information appliance market is now on the launch pad." The firm,
which has previously streamlined its business to move into
higher-margin chip markets, said it intends to sell a majority
interest in its South Portland, Maine, wafer fabrication plant.
For the full text story, see
infobeat.com
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Might be seen as a positive development for the whole industry.
Land_Lubber |
