Intel Corporation (NASDAQ:INTC) has reported a very solid third quarter results on Tuesday. Intel reported $0.66 earnings per share, which was $0.01 more than the estimates. But the stat which raised many eye brows was year-over-year increase in PC Client Group revenue by 9%, since many believed that the PC sales were dipping. Intel Corporation (NASDAQ:INTC) has banked on the PC business for almost 3 decades, and its latest earnings report also suggested that around 60% of revenue was from PC business. But this might not work forever and as an alternative Intel has stepped into the mobile phone market, with the Launch of first-ever Atom powered Asus PadFone X Mini. Intel Corporation (NASDAQ:INTC)’s CEO, Brian Krzanich talked on Fox Business about the new PadFone X and PC business.
Intel Corporation (NASDAQ:INTC), ASUSTEK Computer Inc., and AT&T Inc. (NYSE:T) together launched the brand new PadFone X Mini, which will be the first ever smartphone in US market powered by Intel processor. This new device is kind of a shape shifter, which can function both as a 4.5” Phone and a 7” Tablet. Can this new shape shifting device turn the heads of consumers in already crowded phone market in US?
“[…] What’s unique about this device is, holding up it looks like 7” tablet, but if you look on the back, with just a quick flip I am pulling out my phone, and so now I have my phone and my tablet all in one device, and they are interconnected and they share their data across,” Krzanich said about PadFone X Mini.
Krzanich thinks that this device can solve the problem faced by many in having two different data plans for tablet and the phone, since the new device shares the same data plan and also can share the data between them. He mentioned that Intel Corporation (NASDAQ:INTC)’s plan was not to just enter the phone market, but to enter it with an innovative design with the partners, and he feels that ASUS’s PadFone X Mini meets that requirement. He also mentioned that since the new device gets charged through the tablet, it has larger battery capacity and time. He feels that this device can solve a lot of problems that people face at the moment.
Hewlett-Packard Company (NYSE:HPQ) has recently announced a split in their business to streamline the data server business, but Krzanich thinks that Intel Corporation (NASDAQ:INTC)’s business model shares a intellectual property and expertise between business and splitting doesn’t make sense.
As of 30 June 2014, Ken Fisher’s Fisher Asset Management hold around 18.9 million Intel Corporation (NASDAQ:INTC) shares.