October 26, 2023 /SemiMedia/ -- Texas Instruments said on October 24 that due to falling demand in the industrial market, revenue and profits are expected to be lower than expected in the fourth quarter of 2023, and it will cut production to reduce inventory and maintain gross profit margins.

TI said sales in the industrial market, the company's largest revenue share, fell by more than a dozen percent in the third quarter, with declines in all regions except Japan.

Although the industry had previously believed that the end of the global epidemic would lead to a significant rebound in demand, this rebound did not materialize as most people expected.

Analysts said TI's forecast reflects a further deterioration in demand in the industrial sector that is likely to persist for at least the next few quarters.