US-based chip maker Texas Instruments (TI) plans to cut 1,700 jobs as it continues to shift its wireless technology focus away from the mobile market to embedded products.

The company believes the embedded market has greater potential for sustainable and long-term growth as well as requiring fewer resources and less investment as there is less emphasis on custom-built chips.

"Momentum is already building with new embedded applications and a broad set of customers, and we are accelerating our efforts in these areas," said Greg Delagi, senior VP of Embedded Processing at TI.

The company expects to reduce annual costs by US$450 million by the end of 2013, although it will incur around US$325 million in restructuring charges in the current quarter.