TI is working to get several new semiconductor chip-producing plants online over the next year as shortages persist.
5:51 PM on Jan 25, 2022 CST
“Our industrial and automotive customers are increasingly turning to analog and embedded technology to make their end products smarter, safer, more connected and more efficient,” TI head of investor relations David Pahl said on a call with analysts. TI attributes strong demand in those two sectors for its higher-than-anticipated fourth-quarter and full-year revenue growth. Revenue for the year was up 27% year-over-year for 2021 at $18.34 billion. Industrial and automotive sales collectively made up more than 60% of the company’s sales, Pahl said.
Demand for semiconductor chips rose 17% from 2019 to 2021, but companies that need to purchase those chips to make their products have not seen a “commensurate” increase in supply, according to the report.
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