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Intel Chief Says Slowdown Hasn't Hurt Demand

Reuters
Saturday, 5 Apr 2008 | 11:40 AM ET

Intel, the world's largest chip maker, said it isn't seeing a significant drop in demand amid the U.S. slowdown because it exports most of its chips.

Intel Core 2 Duo Processor
AP
Intel Core 2 Duo Processor

"Until now, we are not experiencing any dramatic changes worldwide for our products, not even at home in the United States," Intel CEO Paul Otellini told Germany's Spiegel magazine in an interview released on Saturday ahead of publication on Monday.

In fact, Otellini said, Intel has actually benefited to some degree from the U.S. slowdown because the weak U.S. dollar has helped its exports.

Exports account for 80 percent of Intel's sales.

Corroborating what vendors of business software have said recently, Otellini said companies normally invested more in information technology in hard times because it was a way of boosting productivity.

"Even on Wall Street, which has been severely shaken, considerable investments are being made in this area right now," he said.

Shares of Intel finished down 6 cents at $21.87 Friday on the Nasdaq.

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