For years, electronics giant Texas Instruments Inc. (TI) has been the dominant seller of graphing calculators to middle and secondary schools and students. Now, a handful of high-tech challengers, boasting superior functionality and comparable prices, is giving educators a greater range of choices and threatening TI's grip on this multimillion-dollar market.

Big-name companies such as Hewlett-Packard Co. (HP) and Casio Inc. are rolling out new standalone graphing calculators designed to topple the popular TI-83 in K-12 classrooms, and upstart companies, such as Oregon-based Infinity Softworks Inc., are exploring solutions that would do away with the...

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