Texas Instruments Says It’s Nearing Recovery After Sales Slump
- Company has suffered eight straight quarters of sales declines
- CEO says end of glut should be close, despite tepid forecast
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Texas Instruments Inc. Chief Executive Officer Haviv Ilan said that customers are working through excess inventory and the timing is right for an order recovery following eight straight quarters of revenue declines.
Speaking on a conference call after delivering third-quarter results, Ilan said that three of TI’s main markets have already begun to rebound, but its biggest sales sources — industrial and automotive chips — are still suffering from a glut of inventory.