Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : Intel Corporation (INTC) -- Ignore unavailable to you. Want to Upgrade?

To: wanna_bmw who wrote (166524)	6/18/2002 5:22:51 PM
From: Proud_Infidel	Read Replies (2) \| Respond to of 186894

Intel exits Web hosting business, set to take $100 million charge in Q2 Semiconductor Business News (06/18/02 17:14 p.m. EST) SANTA CLARA, Calif. -- In a blow to its “e-business” strategy, Intel Corp. here today announced plans to wind down its loss-ridden Web hosting business. As a result of the decision to wind down its Intel Online Services (IOS) operations, Intel expects to take a pre-tax charge of approximately $100 million in the second quarter, primarily affecting cost of sales. The charge is related to the write-down of capital assets and other costs associated with the phasing out of IOS activity. The company will continue providing services to existing customers over the next 12 months and will immediately begin working with those customers to ensure a smooth transition. No new customer engagements will be pursued. "While IOS has been successful in attracting new customers, market trends and financial projections for the hosting services industry lead us to today's decision," said Dalibor Vrsalovic, president of Intel Online Services Inc., in a statement.