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Texas Instruments, the US chip maker, reported a 23 per cent increase in revenues for the first quarter, driven by growth in 3G mobile phone handsets and demand for lower-end handsets in emerging countries.

The gross margin increased to 50.1 per cent compared with 46 per cent a year earlier, and was slightly higher than the previous quarter.

Income before tax was $767m compared with $482m for the first quarter in 2005.

TI said its expenditure for the second quarter was expected to be between $3.46bn and $3.75bn, and earnings per share of $0.38 to $0.43.

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