TI to reduce costs in Wireless business; OMAP™ processors and wireless connectivity solutions will focus on embedded markets

    TI to reduce costs in Wireless business; OMAP™ processors and wireless
            connectivity solutions will focus on embedded markets

PR Newswire

DALLAS, Nov. 14, 2012

DALLAS, Nov. 14, 2012 /PRNewswire/ --Consistent with previously stated
strategic plans, Texas Instruments (TI) (NASDAQ: TXN)announced today it will
reduce costs and focus investments in its Wireless business on embedded
markets with greater potential for sustainable growth.Cost reductions include
the elimination of about 1,700 jobs worldwide.

TI previously outlined intentions to focus its OMAP processors and wireless
connectivity solutions on a broader set of embedded applications with long
life cycles, instead of its historical focus on the mobile market where large
customers are increasingly developing their own custom chips. These changes
require fewer resources and less investment.

"We have a great opportunity to reshape our OMAP processor and wireless
connectivity product lines to concentrate on embedded markets. Momentum is
already building with new embedded applications and a broad set of customers,
and we are accelerating our efforts in these areas," said Greg Delagi, senior
vice president of Embedded Processing. "These job reductions are something we
do with a heavy heart because they impact people we care deeply about.We will
work closely with all employees affected by these changes to provide a range
of assistance related to compensation, benefits and job search."

As a result of these actions, the company expects annualized savings of about
$450 million by the end of 2013. Total charges will be about $325 million,
most of which will be accounted for in the current quarter. TI's
fourth-quarter outlook, published on October 22, did not comprehend these
restructuring charges.

About Texas Instruments

Texas Instruments semiconductor innovations help 90,000 customers unlock the
possibilities of the world as it could be – smarter, safer, greener, healthier
and more fun. Our commitment to building a better future is ingrained in
everything we do – from the responsible manufacturing of our semiconductors,
to caring for our employees, to giving back inside our communities. This is
just the beginning of our story. Learn more at www.ti.com.

TI trademarks:
 OMAP
Other trademarks are the property of their respective owners.

Safe Harbor Statement

"Safe Harbor" Statement under the Private Securities Litigation Reform Act of
1995:

This release includes forward-looking statements intended to qualify for the
safe harbor from liability established by the Private Securities Litigation
Reform Act of 1995. These forward-looking statements generally can be
identified by phrases such as TI or its management "expects," "estimates" or
other words or phrases of similar import. Similarly, statements herein that
describe TI's business strategy, outlook, objectives, plans, intentions, goals
or anticipated cost savings also are forward-looking statements. All such
forward-looking statements are subject to certain risks and uncertainties that
could cause actual results to differ materially from those in the
forward-looking statements, including but not limited to the ability of TI to
complete its cost-reduction actions in a timely manner and to realize
opportunities for our OMAP processor and wireless connectivity product lines
in embedded markets; and the other risks and important factors contained and
identified in the Risk Factors discussion in Item 1A of TI's Form 10-Q for the
quarter ended March 31, 2012. The forward-looking statements included in this
release are made only as of the date of this release, and TI undertakes no
obligation to update the forward-looking statements to reflect subsequent
events or circumstances.

TXN-C

SOURCE Texas Instruments Incorporated

Website: http://www.ti.com
Contact: Whitney Jodry, 214-479-0952, wjodry@ti.com, or Kim Morgan,
214-479-0707, k-morgan@ti.com. Please do not publish these numbers or email
addresses.
 
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