Complex sentence: In 1960, with the help of a new team, Shockley brought his diode to serial production, but time had been lost, and competitors had already come close to the development of integrated circuits.
Split into simpler sentences: In 1960, with the help of a new team, Shockley brought his diode to serial production. But, time had been lost, and competitors had already come close to the development of integrated circuits.