Intel earnings sink as personal computer era fades

(MENAFN- AFP) US chip giant Intel on Thursday reported that its net profit last year sank 13 percent but that the troubled personal computer market appeared to be stabilizing.California-based Intel said that it made a net profit of $9.6 billion on revenue of $52.7 billion as compared with $11 billion in net profit on $53.3 billion in revenue in 2012.''We had a solid fourth quarter with signs of stabilization in the PC segment and financial growth from a year ago,'' said Intel chief executive Brian Krzanich.In the final quarter of the year, Intel posted profit of $2.6 billion on revenue of $13.8 billion as compared with $2.5 billion net income on $13.5 billion in revenue during the same period in 2012."We've built a strong foundation for our business by bringing innovation to the market more quickly across a wide range of computing platforms," said Krzanich."For example, at CES, we demonstrated multiple devices that weren't on our roadmap six months ago.''At the Consumer Electronics Show gadget extravaganza in Las Vegas last week, Intel unveiled a major new push into wearables and connecting everyday devices as it seeks to leapfrog the competition in mobile computing.