The chip manufacturer records a loss of billions.
(Photo: dpa)
san francisco The US chip group Intel has recorded the largest quarterly loss in the company’s history. In the first three months of this year, the company made a minus of 2.8 billion dollars, as the group announced on Thursday. During the same period, sales fell 36 percent to $11.7 billion.
CEO Pat Gelsinker tried his hand at damage control. Under his leadership, the company’s expenses would be greatly reduced, he promised. “We are on track to achieve our goal of reducing costs by $3 billion by 2023 and achieving annual savings of $8 billion to $10 billion beginning in 2025,” he said.
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