CNBC Exclusive: Intel CEO Says Investment Key To New Markets
In an exclusive interview with CNBC's Jim Goldman, Intel CEO Paul Otellini told of the "great lessons" he learned while bringing the company back to greater profitability.
Otellini said the secret to the company's recent success is the "old axiom, 'the best technology wins' -- and the best technology is really working out." He said Intel's new product launches last year gave the firm a lift and garnered new customers.
The CEO's comments came after he told analysts in New York that he expects profit growth to outpace revenue growth in 2007 and 2008, due to cost-cutting efforts that will improve profit margins.
He added that Intel is on track to save $2 billion in spending in 2007 and an additional $1 billion in 2008, totaling $3 billion.
Otellini said on CNBC that "You don't stop investing. People will continue to pay for performance. And if you can invent new products, you can open new markets."