Interim CEO of Intel: Limited to PC market in the past few years, now has found greater opportunities

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 Interim CEO of Intel: Limited to PC market in the past few years, now has found greater opportunities


Netease Technologies News Jan. 12, according to CNBC. com, Intel Chief Financial Officer and Interim Chief Executive Bob Swan told CNBC on Thursday that the companys potential market has grown significantly as it has diversified its personal computer business and made strategic acquisitions in areas such as autonomous driving.

This is the biggest potential market the company has ever had, Swan said in an interview with Jim Cramer, host of CNBCs Mad Money.

Swan temporarily took over as CEO after Brian Krzanich, former Intel CEO, resigned in violation of company policy. He said Intel used to believe that it had a 90% market share in the PC market, a relatively slow-growing market.

In that market, our chances of applying technology to new areas are somewhat limited by what we know about ourselves, he said. Over the past few years, we believe we are in a $300 billion (potential market) and we have a 90% share. But now we find that we dont have a 90% share, we only have a 25% share.

Swan said the new understanding came after Intel moved into data management, the Internet of Things and the growing field of autonomous driving, which was highlighted by its acquisition of autonomous driving technology supplier Mobileye in 2017.

We have a strong driving force for data needs: data storage, data processing, data analysis and data retrieval, he said. With these, we are facing unprecedented opportunities... There are both organic growth and passive growth. By acquiring companies such as Mobileye and Altera, we now have a much broader range of capabilities. We believe that the market is as large as ever, and we are very optimistic about the companys future prospects.

But Swan, who has been Intels chief financial officer since 2016, told Kramer that he did not want to be a permanent CEO.

He said, No, I wont. I like my daily work as a CFO. We believe that this position (Intel CEO) is the best one on the planet to fill. The company management team has told the board,Take time to find an outstanding person, and at the same time, we will still run the company well. Its a very exciting moment for us. (Liu Chun)

Source: Responsible Editor of Netease Science and Technology Report: Wang Fengzhi_NT2541