Intel CEO says weak US economy helped exports

Posted on Tuesday, Apr 08 2008 @ 00:45 CEST by Thomas De Maesschalck
Intel's CEO Paul Otellini says his firm hasn't experienced any dramatic changes, not even in the United States. Otellini says demand for Intel's chips hasn't slowed down, exports even increased due to the weak U.S. dollar.
"Until now, we are not experiencing any dramatic changes worldwide for our products, not even at home in the United States," Paul Otellini told Germany's Spiegel magazine in an interview released on Saturday ahead of publication on Monday.

Corroborating what vendors of business software have said recently, Otellini said companies normally invested more in information technology in hard times because it was a way of boosting productivity.

"Even on Wall Street, which has been severely shaken, considerable investments are being made in this area right now," he said.

Otellini added that Intel actually benefited to some degree from the slower U.S. economy because the weak U.S. dollar helped its exports, which bring in 80 percent of Intel's sales.
Source: Reuters

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Thomas De Maesschalck

Thomas has been messing with computer since early childhood and firmly believes the Internet is the best thing since sliced bread. Enjoys playing with new tech, is fascinated by science, and passionate about financial markets. When not behind a computer, he can be found with running shoes on or lifting heavy weights in the weight room.

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