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Technology Stocks : Game Changers and Market Movers
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From: Paul H. Christiansen11/20/2014 3:38:11 PM
   of 686
 
Intel Promises Wall Street its Huge Mobile Losses Will Narrow

Intel promises its mobile business won’t continue with the multi-billion dollar losses it has seen in the past year.

But Chairman Andy Bryant said such losses were necessary to get back in the mobile game.

“This is the price you pay for sitting on the sidelines,” he said, kicking off Intel’s investor day in Santa Clara, Calif. “We’re losing a lot of money trying to regain our presence in the mobility space.”

Bryant pointed to recent bright spots, including its improved presence in tablets and the company’s LTE modem being adopted for one of Samsung’s Galaxy phones.

“I’m not embarrassed about it like I was a year ago,” Bryant said.

That said, Intel is still expecting big losses, with CFO Stacy Smith saying it should be able to pair losses next year by about $800 million. However, analysts are projecting about $4 billion in operating losses this year, so that still leaves a pretty big loss next year.

Bryant said Intel is helped by the fact it has been a pretty good year for its other businesses in the PC and data center areas.

CEO Bryan Krzanich noted that the company is on pace to deliver record revenue of more than $55 billion.

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Intel Promises Wall Street its Huge Mobile Losses Will Narrow
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