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See the best of Reuters photography. See more | Photo caption Tallest skyscrapers The tallest buildings in the world right now. Slideshow Mexican Lolita The so-called "Lolita" style has found its way to Mexico. Slideshow Texas Instruments not giving up on OMAP chip biz Tweet Share this Email Print Related News Broadcom outlook for profit margin disappoints Tue, May 1 2012 Insight: As chip plants get pricey, U.S. risks losing edge Tue, May 1 2012 AT&T profit up, helped by iPhone sales drop Tue, Apr 24 2012 Texas Instruments revenue forecast beats Street Mon, Apr 23 2012 Verizon Wireless data revenue growth impresses Thu, Apr 19 2012 Related Topics Tech » President and Chief Executive Officer of Texas Instruments Inc. Richard Templeton speaks during a news conference in southern Indian city of Bangalore March 28, 2006. Credit: Reuters/Jagadeesh Nv NEW YORK | Thu May 3, 2012 5:11pm EDT NEW YORK (Reuters) - The chief executive of Texas Instruments (TXN.O) told investors that the company's wireless application chip business would be increasingly important for the chip maker, which is currently shuttering another wireless chip business. TI shares were down 2 percent after the CEO's comments. Some analysts are worried about a remaining TI wireless business -- its OMAP application chips -- because it is cost intensive and faces increasingly stiff competition. But CEO Richard Templeton suggested that he is nowhere near ready to give up on the business, and talked about trends that could lead to strong growth prospects for OMAP. "I think it is a highly intriguing opportunity in terms of where we are and what our opportunity is," Templeton said during a webcast of the company's investor meeting. He explained that TI had given up on the company's mobile baseband chips -- the chip that connects cellphones to the wireless network -- because it did not make sense for TI to compete in that market. TI looks critically at each of its business units in this way, according to Templeton: "If they don't make sense over the long term we'll do something different." But he added that TI doesn't "have a public or private time frame for what we're going to do with OMAP." TI shares closed down 70 cents or 2.2 percent at $31.39 on Nasdaq after the presentation. (Reporting by Sinead Carew; Editing by Phil Berlowitz) Tech Related Quotes and News Company Price Related News Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. 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