Tech News: Intel’s PC business is up by 33 percent; credit to cheap notebooks.
We already know that 2020 was a huge year for PC sales, now Intel confirms that report with fourth quarter earnings figures. Chipmaker Says PC Business Up 33% from last year, with notebook revenues, in particular, up a good 30 percent. Intel’s Client Computing Group, which hosts its PC products, generated $ 10.9 billion in revenue last quarter, up 9% from last year.
Most interestingly, the average price of notebooks dropped by 15%, which tells us that people certainly needed new computers when they faced the COVID-19 pandemic, but they were unwilling to pay a higher price.
Intel’s strong PC sales, coupled with an astonishing 39% increase in the self-driving Mobileye technology division, helped the company exceed its October revenue expectations of $ 2.6 billion. The company reported revenue of $ 20 billion for the fourth quarter, with a profit of $ 5.9 billion. Those numbers were actually 1% and 15% respectively from last year, but the company is still celebrating.
Intel will not provide guidance for the full year of 2021 until its new CEO, Pat Gelsinger, takes over the helm in February. But for now, the company expects first-quarter profit to be around $ 17.5 billion.