Another year, another record year of profits for chip giant Intel as the firm announced $54 billion in revenue, up an astonishing 24 per cent.
2011 was an exceptional year for Intel," said Intel chief Paul Otellini, Intel president and CEO. "With outstanding execution the company performed superbly, growing revenue by more than $10 billion and eclipsing all
annual revenue and earnings records."
Otellini said that the firm had a "tremendous product and technology pipeline" for 2012 and that the firm is optimistic about grow arising from the ultrabook category, data center server chips and Intel-powered smartphones and tablets.
Intel anticipates spending $10.1 billion on research and development during 2012 and also revealed a large jump in capital expenditure of almost 20 per cent to $12.5 billion as the company shifts focus to target ARM with mobile parts.
The company is also set to unleash a barrage of marketing later this year, aimed at raising awareness of the firm’s new ultrabook category. The campaign will be the firm’s largest since 2003.