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Broadcom to buy AMD’s digital TV business

Broadcom, a manufacturer of semiconductors, announced it plans to buy Advanced Micro Devices’ digital television chip business for $192.8 million in cash to expand into the low-end television screen market.

Broadcom, maker of chips for mobile phones, network equipment and a range of consumer electronics, previously focused on mid-tier and high-end television chips.

AMD, which trails behind rival Intel in market share, has reported seven straight quarterly net losses and is developing a new strategy for manufacturing.