Sep 26th, 2012 publishUpdated   Jan 3rd, 2013, 6:58 pm

Losing precious ground to the likes of Qualcomm, NVIDIA, and device manufacturers choosing to develop their own processors rather than purchase them from a third party, Texas Instruments has announced that they are backing out of the smartphone and tablet market as they refocus their chip production efforts. Instead, TI will shift attention towards industrial clients, including carmakers, with the hope to create a better bottom line for the business. Investors don’t seem to agree, as shares fell 3 precent in light of TI providing no real roadmap for how the company plans to move forward.

While the chipmaker will continue to support its current hardware partners, TI says they will significantly reduce their investment in future smartphones and tablets, likely spelling an end to the OMAP series of processors as we know it. While OMAP chips will continue to exist in one for or another, they won’t be powering our smartphones and tablets much longer. No specific timeframe was given for the pullback, however.

[via Reuters]

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