Tuesday January 2, 12:09 am ET Intel moving into new consumer devices - newspaper
NEW YORK, Jan 1 (Reuters) - Intel Corp (NasdaqNM:INTC - news), the world's No. 1 semiconductor maker, is going to start selling consumer devices like portable digital-music players as sales of personal computers slow down, the Wall Street Journal reported in its online edition Tuesday.
The Santa Clara, Calif.-based company, which sells chips that are used in PCs, will unveil its new digital-music player on Friday at the Consumer Electronics Show in Las Vegas, the paper said.
Chief Executive Craig Barrett will give the keynote address at the conference and will also detail two other new products, which Intel will begin selling later in 2001, the paper said.
The two other products are the ChatPad, an instant-messaging and e-mail device, and a WebTablet, which will let people surf the Internet using a hardcover-book-sized wireless screen, the paper said.
Intel, which derives more than 80 percent of its sales and profits from microprocessors, expects its new businesses to post sales growth of more than 50 percent, the paper said.
That growth will offset slower growth from its processors unit, which is expected to report revenue growth of only 10 percent, the paper said.
Intel shares closed off 7/8 at $30-1/16 in Friday trading on the Nasdaq, well below their 52-week high of $75-13/16 and above a yearly low of $29-13/16.
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