They're all under pressure now. Next year when the competition increases, they are going to get squeezed on their margins. TI must be feeling it. They have some good power management parts for the wireless space but that's not where the margins are.
Intel was selling the PXA processors for less than cost but they need to get in the wireless and tablet spaces with their products. Their earlier efforts at diversifying their product portfolios went poorly because it's simply more efficient to make a lot of a few IC products like with PCs. Your margins drop when you have a big mix of low volume products. Buying Infineon is a desperate effort to become a wireless chip company. After all, look who's gaining every year. Look who has the highest market cap. Qualcomm. Intel has a good IC process but they need good chips. They will have something.
The biggest problem in Intel is their skin deepth marketing. They sold Xscale department to Marvell with a very cheap price four years ago and now they paid unbelieveable price to acquire Infenion, why? Intel is panic now but their bureaucracy blocked at their roadmap. Intel tried to restrucking to a turn-key ASIC solution provider but the point is where to find big customers? Apple? No, Apple is stucked at Samsung and Apple will not pull out from Samsung because Apple really wants AMOLED screen made by Samsung. Nokia? No, Nokia is not big enough at this time for Intel. Whom else? I dont, you tell me.