Stock Ticker

  • Loading stock data...

Intel Corporation (NASDAQ:INTC) To Set Up Innovation Center In China; Announced $100 Million In Funds

Boston, MA 04/02/2014 (wallstreetpr) – At a developers’ event, Intel Corporation (NASDAQ:INTC) announced that it is planning to set up a center for innovation in China. It also announced its plan to fund $100 million to accelerate development of new devices which could deploy its chips.

The Silicon Valley company is repeating its trend of drawing in profits and generate revenue from processors in new marketplaces. It has already channeled more than around $670 million into as many as 110 companies in China gaining from the two investment funds it had established previously.

Super High Speeds

Marking its 29th year in the country, Intel’s Chief Executive Officer Brian Krzanich announced that the company will be launching a new kind of hardware in the market. The announcement was made at the IDF Shenzhen event, which informed the company’s plans of bringing in mobile devices supporting the company’s first Cat 6 LTE solution by the second quarter of the year.  The new device features support for China’s TD-SCDMA plus TD-LTE network which also incorporating the standard 2G GSM and WCDMA plus FDD-LTE across the world. The new multi mode solution is capable of providing speeds up to 300 Mbps, which is double that of the current Cat 4 LTE.

New Technology Hardware

Intel Corporation (NASDAQ:INTC) is also working to develop hardware for the “Internet of Things” as well as for new technology smartphones. These fields demand smaller and less expensive chips compared to the company’s earlier products which also include the Quark processor series it had introduced in September.

Intel Corporation (NASDAQ:INTC) is also planning to demonstrate a live call at the event using a local network of China based on TD-LTE. With this live call Intel seeks to exhibit its progress while still working on acquiring a Chinese certification for new wireless chips, which would enable the deployment of such applications. Intel expects to complete the task by the second half of 2014.

Published by Duncan Oleinic

Duncan Oleinic is from New Yourk. After graduating with a degree in physics, he began his career as an analyst in a broking firm. Through this experience he was able to advance to the role of correspondent for a U.S based financial news provider, where he worked from 2001 to 2007. He subsequently joined a merchant banking firm as a financial analyst focused on valuing unlisted companies in the sub-continent. Over the course of his two years here, he performed valuations of several media companies which were later acquired by peers.

Recent Stories

Sponsored Content

Sign Up To Get Our Latest Stocks Alerts