Boston, MA 09/30/2013 (wallstreetpr) – Shares of Intel Corporation, (NASDAQ:INTC) were down 1.84% to close at $22.98. The 52-week price range of company’s stock stood at $19.23 to $25.98.
The company has been battling with falling market demands, ever since the slump in sales has been as a result of the dying PC industry.
The company’s efforts to revamp its revenue base have fallen flat. This has been evident after users started to switch to the much convenient and hep smartphones and tablet alternative s of the same.
The company’s recent venture into Internet Television Project seems to have larger issues than what was earlier apparent. The company was planning to unveil such service by the end of this year, which now expects to miss the guideline. The company has also been vying on tying up with other market leaders to help the company meet its deadline. Intel had earlier approached Amazon and Samsung for funding a part of Intel’s project for the distribution service.
The company is also taking head on with Google, in a b id to save its own market share. The company has determined to invest in Recon Instrument, which is a rival to Google Inc. This will go in product development at Recon, enhancing the marketing and local sales expansion at Recon. The company has rightly handpicked the correct company. Going by statistic, Recon had shipped more Jet headsets than Google Glass. The Google Glass is available to only few fans, since it is priced at a premium tag of $1500. At the same time, Recon offers its wearable computer at $599, before a $100 discount in celebration of Intel Capital partnership.
The company, after learning fro the fact that it would be useful to clinging to an industry which is dying by itself, has been looking for other venues from the one which once formed its core competency. Such wearable computing is a major phenomenon that would redefine the way users would use information in future.
