According to a report in Bloomberg.com, semiconductor maker Texas Instruments second-quarter profit has missed estimates as demand for mobile- phone chips slows, sending its shares lower.
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This forecast heightened concerns that a U.S. economic slowdown is curbing mobile-phone demand, especially for high-end models that are web-ready and that can play music.
According to the report, the first-quarter profit for Texas Instruments rose 28 per cent to $US662 million from $US516 million a year ago. Sales also increased 2.5 per cent to $US3.27 billion.
Texas Instruments is also the world's largest maker of analog chips, semiconductors in everything from washing machines to robots.
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