Intel profits plummet by 35% amid price cuts

THE world’s largest computer-chip maker, Intel, last night said third-quarter profit fell 35% amid price cuts and market share losses.

Net income fell to $1.3 billion (€1.03bn), or 22 cents a share, from $2bn (€1.59bn), or 32 cents, a year earlier, Santa Clara, California-based Intel said yesterday in a statement.

Sales slumped 12% to $8.74bn (€6.96bn).