Economy

Intel's incoming CEO says majority of 2023 products will be made internally

Intel's incoming CEO says majority of 2023 products will be made internally”

He is confident that the majority of products will still be produced in their own factories by 2023.

He plans to provide more details after officially taking over the CEO role February 15, however Gelsinger was clear that Intel is sticking with its once-mighty manufacturing operation. "At the same time, given the breadth of our portfolio, it's likely that we will expand our use of external foundries for certain technologies and products", incoming Intel CEO Pat Gelsinger said on Thursday. Shares rose 6.5% during regular trade, when the results were released ahead of the close. They later fell about 1.9 per cent in after hours trading.

During its presentation on financial figures for the fourth quarter of 2020 (Intel turned over $20 billion from October to December / above expectations).

In Intel's data center business, revenue from cloud service providers fell 15 per cent from a year earlier.

The infographic was accessed and exfiltrated from Intel's corporate PR newsroom website as the company's Chief Financial Officer George Davis told the Financial Times - an infographic containing information related to the Q4 & FY 202o earnings statement is now available on Intel's newsroom. The company also raised its dividend by 5 per cent.

The company has also been in talks with another Asian chipmaker, Samsung Electronics, for chip production.

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Intel was impacted by another data leak previous year when developer and reverse engineer Tillie Kottmann leaked roughly 20 GB of Intel confidential documents during August, after receiving them from an anonymous source who allegedly breached Intel's servers to steal them.

Nikkei Asia previously reported that Intel is in talks for at least five projects with TSMC with a view to outsourcing production of some of its flagship processors for a wide range of devices, including laptops, servers and edge-computing devices, to the world's biggest contract chipmaker. Executives are expected to give details of the decision on a conference call at 5 p.m. ET today.

That, combined with investments in other aspects of chip development, including packaging technologies, will allow the company to deliver the "best products for our customers in every category that we participate in", according to Gelsinger. TSMC and Samsung have exceeded Intel's manufacturing technology, while chip engineering companies AMD, ARM Holdings and NVIDIA have produced a string of innovations that threaten Intel's market position.

Intel said it expects sales of $18.6 billion in the current quarter, down from sales of $19.8 billion in the first quarter of 2020. Its higher-margin data center unit generated sales of US$6.1 billion.

Revenue in the period ending in March will be about US$17.5 billion, the Santa Clara, California-based company said.



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