Intel Q4 Sales Fell 20 Percent
Intel, the world’s leading maker has released its fourth quarter sales which declined to 20 percent. With this result, the company blamed the low demand for computers and laptops as consumers are tightening their budgets.
In addition to this, Intel has recently laid off thousands of employees to cut costs amidst financial crisis.
Intel, the world’s leading chipmaker, has released its fourth quarter sales which fell 20 percent caused by low demand for computers and laptops as consumers are tightening their belts amidst global economic slowdown.
According to Intel, the company’s year-end sales reached to $8.2 billion, a dismal result from its initial prediction that it will at least reach $10.1 billion to $10.9 billion. With this event, the Intel said that it is the worst quarter-to- quarter decline from its history.
Compared from a year earlier, the company’s sales slumped to 23 percent, an alarming trend which had forced Intel to lay off thousands of workers and to postpone market expansion.
The report also revealed that 2008 is the worst full-year sales since 2006 when the company has also experienced poor consumer demand, forcing it to adopt various contingency plans such as layoffs, operational restructuring, and postponement of expansions.
Intel also said that its tech company Clearwire, which is an Internet service provider, is not also doing well, adding that it is expecting to lose more than $1.2 billion on equity investments from the initial prediction of only $50 million.
Analysts were not shocked with the result saying that this event is expected due to consumer low confidence, forcing people to spend less on buying.
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