Intel posts 90% fall in profits as PC market shrinks

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...

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.

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