Intel has reported a 90% fall in profits for the fourth quarter,
as the fall in PC shipments bites chip manufacturers.
Earlier this week, analyst IDC said there had been an overall
fall in PC shipments during the normally busy fourth quarter
holiday season. This was the first quarterly fall since 2001.
Intel said it made a $234m profit for the last three months of
2008, a 90% drop on the same quarter last year.
Sales for the quarter were also down to $8.2bn, a drop of
23%.
For the full year, sales were down 2% and profits fell 24%. The
bad figures were widely expected as Intel had issued
two previous profit warnings for the period.