Eugene McDermott
In 1951, McDermott, along with Cecil Howard Green, Patrick E. Haggerty, and J. Erik Jonsson co-founded Texas Instruments. This was done when the company changed its name to Texas Instruments; GSI becoming a wholly owned subsidiary of the new company. This acknowledged that the company had changed its focus from one primarily devoted to oil exploration to one focused on manufacturing. McDermott was the Chairman of TI from 1951-1957, Chairman of the Executive Committee of Board of Directors from 1957-1964 and Director until his death in 1973. During this period of time, Texas Instruments rose to be one of the world's largest corporations.
Transistor radio
Two companies working together, Texas Instruments of Dallas, Texas and Industrial Development Engineering Associates (I.D.E.A.) of Indianapolis, Indiana, were behind the unveiling of the Regency TR-1, the world's first commercially produced transistor radio. Previously, Texas Instruments was producing instrumentation for the oil industry and locating devices for the U.S. Navy and I.D.E.A. built home television antenna boosters. The two companies worked together on the TR-1, looking to grow revenues for their respective companies by breaking into this new product area. In May 1954, Texas Instruments had designed and built a prototype and was looking for an established radio manufacturer to develop and market a radio using their transistors. (The Chief Project Engineer for the radio design at Texas Instruments' headquarters in Dallas, Texas was Paul D. Davis, Jr., who had a degree in Electrical Engineering from Southern Methodist University. He was assigned the project due to his experience with radio engineering in World War II.) None of the major radio makers including RCA, Philco, and Emerson were interested. The President of I.D.E.A. at the time, Ed Tudor, jumped at the opportunity to manufacture the TR-1, predicting sales of the transistor radios at "20 million radios in three years". The Regency TR-1 was announced on October 18, 1954 by the Regency Division of I.D.E.A., was put on sale in November 1954, and was the first practical transistor radio made in any significant numbers. "Billboard" reported in 1954 that "the radio has only four transistors. One acts as a combination mixer-oscillator, one as an audio amplifier, and two as intermediate-frequency amplifiers." One year after the release of the TR-1 sales approached the 100,000 mark. The look and size of the TR-1 was well received, but the reviews of the TR-1's performance were typically adverse. The Regency TR-1 is patented by Richard C. Koch, , former Project Engineer of I.D.E.A.