Boston, MA 01/07/2013 (wallstreetpr) – Intel Corporation (NASDAQ:INTC) is the largest maker of chips used in computers, smartphones, tablets and other smart devices. The company announced at the ongoing Consumer Electronics Show in Las Vegas that it its processor no longer contain minerals from conflict-mines in the Democratic Republic of Congo.
The company uses minerals such as gold, tin, tungsten and tantalum in its chip production. Eastern Congo is rich in such minerals at it had been claimed that continued purchase of minerals from conflict-mines in the region was responsible for the escalation of the violation in the region.
A law passed in the U.S. in 2010 sought to have companies disclose whether their products contained minerals from the conflict-mines in Congo. It was thus important for Intel Corporation (NASDAQ:INTC) to state that its processors are now free from blood-minerals so as to company with the law. More importantly, this disclosure has the potential of winning the company more international business due to a good reputation.
Intel Corporation (NASDAQ:INTC) relies on relatively few suppliers and this made it possible for the company to trace the source of its supplies. It however took about four years of work to determine this. It will be quite tricky for most of its rivals to come to this conclusion.
CES presentation
Consumer Electronics Show offers vital opportunity for tech companies to showcase their innovation and future plans for the industry. The session also offers importunity for investors to determine promising tech stocks which they can invest in. Intel Corporation (NASDAQ:INTC) had promised that they would discuss an array of technological development and how such technology can benefit the society and investor community.
Intel Corporation (NASDAQ:INTC) is fighting a lot of wars in that competition and high operating cost environment are eating away its profits. The company needs to address its cost cutting efforts and also improve its technological edge to win more customers. The company had indicated that it would start foundry chip manufacturing to boost its revenue given that PC market was no longer contribution enough to its overall revenue.
