Significance: Four years after it decided to exit the handset baseband market, Texas Instruments looks set to move another step away from the mobile space with which it is so heavily associated, scaling back its OMAP app processor activities on smartphones. However, it will not, as often rumored, sell the platform, but will instead refocus it on embedded devices and industrial markets such as automotive. There is internal logic to this ‘ TI’s areas of growth and leadership are increasingly in industrial and analog chips rather than mobile devices, where its competitive landscape has change dramatically since the launch of the iPhone and the decline of its major customer Nokia. Its decision to quit basebands has left it weakened against…