Texas Instruments’ Rich Templeton Addressed North Texas’ Role in the Global Marketplace

On July 27th the Dallas Regional Chamber hosted its 10th Annual State of Technology event, bringing together over 700 leaders in the region’s technology and life science economy to hear from a local anchor company. Prior to the luncheon keynote, attendees visited the Innovation Showcase which featured over 70 companies showcasing their latest technology products and services.

Rich Templeton, Chairman, President & CEO of Texas Instruments provided the keynote address focused on the opportunity for North Texas companies in the global marketplace and how technology is impacting the world we work and live in. The Dallas Morning News’ Victor Godinez covered the event and provide the below editorial, published in the Dallas Morning News on July 28th, on Mr. Templeton’s speech.

“For Texas Instruments Inc., foreign markets aren't undiscovered countries or murky threats. They're practically home base. "Ninety percent of our revenue now comes from outside the U.S.," chief executive Rich Templeton said Tuesday. He made the remarks in an interview before delivering the keynote speech to hundreds at the annual State of Technology luncheon hosted by the Dallas Regional Chamber. Templeton emphasized that Texas Instruments thrives because it forges into new technologies and new markets. "China today is our largest market," he said during the speech at the Sheraton Dallas Hotel. TI is also revamping its product mix, dumping older "baseband" chips that connect wireless devices to networks and focusing on analog and embedded processors that perform sophisticated tasks inside a variety of devices. Templeton said consumers are forcing changes in the semiconductor industry that most experts never predicted. He noted, for example, that more people in India have cellphones than electricity. So how do they charge their phones? In some cases, with solar-powered LED lanterns with power outlets built into the base. TI makes that technology. TI also is developing chips for new applications in health care and automotive safety. The company still makes plenty of products for phones, of course, including components for the hot new Motorola Droid X smart phone. Templeton said technology now makes up 17 percent of U.S. exports, the largest category, with semiconductors the biggest piece of that category. "That's more than oil and more than aircraft," he said. After a sharp downturn last year, TI is returning to growth. The company reported last week that second-quarter sales grew to $3.5 billion from $2.5 billion in the same period last year, while profit nearly tripled to $769 million. But while TI is increasingly making money overseas, it still remains a Texas company. Templeton said TI is on track to open a chip manufacturing plant in Richardson in four or five months, which will eventually employ hundreds of workers. But Templeton mostly used his time to make the case for global trade and urged federal legislators to develop additional free trade agreements. "Global markets are opportunities, not just threats," he said.”

The 10th Annual State of Technology was hosted by the Dallas Regional Chamber’s Technology Business Council. To view a full listing of companies that participated in the Innovation Showcase, were sponsors of the event, or more of a recap, please visit www.DallasTBC.org.