Texas Instruments (NYSE:TXN), a designer and manufacturer of semiconductors, announced today it has opened its first wafer manufacturing facility in China.
The facility, located in Chengdu, China, can support more than $1 billion in annual revenue, the company said. Last year, the company earned about $10.4 billion in revenue.
As the Texas Instruments shifts away from the cell phone baseband chip business, the company has increasingly emphasized the analog chips and embedded processors markets.
The announcement follows Texas Instruments’ manufacturing expansions in the U.S., Japan and Germany over the last two years. Over that period, the company has added enough capacity to generate an additional $3.5 billion in revenues from analog chips.
The company’s share price has edged higher by 0.3% to trade at $28.04 as of 10:55 pm ET. The stock has increased 22% in the past year.
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