Intel may have missed the move to mobile, but the company is going to great lengths to make sure it doesn't miss the shift to wearables and the so-called "Internet of Things."
"We are catching up. I should just start out with admitting that," CEO Brian Krzanich said in an interview with CNBC.
Intel was behind in implementing the latest communication technology in its mobile platforms and has since paid a steep price, he said.
The company's first quarter earnings show that mobile and communications revenue dropped 52 percent year over year to $156 million. But the company has made big investments to change directions and is betting its Internet of Things segment, also known as its embedded systems business, will be a big growth driver.
"We were behind. We were late to LTE," Krzanich said, referring to long-term evolution, the most up-to-date standard in wireless communication speed. "But we now believe we have the full suite and we believe we are on the edge or leading edge in almost every category. We think it's critical because I don't think a single product that we make will not have various levels of communication in them."