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Texas Instruments' sales in China grew 20% QOQ in the second quarter

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July 26, 2024

July 26, 2024 /SemiMedia/ -- According to the latest financial report of Texas Instruments (TI), its second-quarter profit exceeded analysts' expectations, thanks to the stabilization of demand for analog chips in markets such as personal electronics and the decline in manufacturing costs. The rebound in sales of smartphones and personal computers has enabled companies to clear out excess inventory caused by hoarding during the epidemic, thus restoring purchasing demand.

Texas Instruments CEO Haviv Ilan said that Chinese electronics manufacturers have completed the consumption of component inventories, and as the largest market for semiconductors, it has resumed growth, with a month-on-month increase of 20%. Haviv Ilan said that Europe and Japan are still in the early stages of this process. He said that in the company's industrial sector, about half of the markets are still digesting inventories, while other markets have resumed order growth.

“It was a good quarter for our China business,” Haviv Ilan said. “There were very clear signs that customers were reducing inventories.”

Texas Instruments expects sales of $3.94 billion to $4.26 billion for its fiscal third quarter ending in September.

However, TI still insists on not predicting when the chip market will fully recover. TI Chief Financial Officer Rafael Lizardi said the current cycle is unusual because different regions and geographies perform differently.

Rafael Lizardi said its factories are running close to full capacity and inventories are roughly flat. The company is able to fulfill most orders immediately after receiving them, indicating that supply and demand are roughly balanced.

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