Intel ready to invest into market downturn
Record Q3 results show healthy business that will continue to grow says EMEA director.
Intel’s strong financial performance means the company is well positioned to weather any downturn in markets, according to Peter Gleissner, Intel’s director for multinational sales EMEA.
Speaking at GITEX, Gleissner said that the company’s Q3 results, posted last week, which showed revenues of $10.2 billion in revenue, a record quarterly profit of $2 billion, would allow the company to continue to invest in future technologies.
“We are well positioned that if there is a downturn, Intel will be able to do what it typically does in a downturn, which is invest into the downturn, so that you come out stronger when the market picks up again,” Gleissner said.
“This is something we have done continuously, when the markets slowed down after the internet bubble burst, we continued to invest between $8-10 bn per year, and our fundamentals show that we would be capable of continuing to invest into new products and new manufacturing,” he added.
For the Gulf region, Intel is continuing to invest in a number of different areas, Gleissner said, to work with partners and customers to further the region’s ICT sector.
The region is considered to be a ‘maturing’ market by Intel, reflecting the diversity in IT adoption and uptake, from high performance computing among sectors like oil and gas, and a growing broad base of consumers and SMEs. Intel is working across a range of areas, including supercomputing, education, and WiMAX to drive IT adoption further.
“The Gulf is a classic example of using both the best technology and at the same time trying to enable the infrastructure for broader usage,” Gleissner said.