Intel profits down 38% as AMD eats into market share

THE world’s biggest chip maker Intel has said first-quarter profit sank 38%, the biggest decline in more than four years, as the company lost market share to Advanced Micro Devices Inc (AMD).

Net income fell to $1.35 billion (€1.09bn), or 23 cents (€0.19) a share, from $2.18bn (€1.76bn), or 35 cents (€0.28), a year earlier, California-based Intel said yesterday.

Sales dropped 5.2% to $8.94bn (€7.22bn).