Boston, MA 01/08/2013 (wallstreetpr) – Intel Corporation (NASDAQ:INTC) has renamed its popular security product, McAfee, which continues to be associated with the bored millionaire Mr. John MacAfee.
The top security product will now be known as Intel Security. However, the red shield logo of the product will be retained. This rebranding is part of the announcements, which the semiconductor giant made during its presentation at the ongoing International Consumer Electronics Show in Las Vegas.
Initially Intel Corporation (NASDAQ:INTC) had said that it did not consider it necessary to change McAfee name. It is clear that the consumer perception on the product is turning negative because of the eccentric behavior of the person who funded the product..
Competition
Intel Corporation (NASDAQ:INTC) is facing growing competition in most of its business segments. Revenue from its PC segment continues to decline at a frightening rate, while its late entry into smartphone and tablet chip market has denied many benefits. It is now struggling to retool its operations and consolidate assets in order to boost its revenue collection.
Renaming of McAfee is one of the many ongoing repackaging efforts at Intel Corporation (NASDAQ:INTC) and is expected to result in increased sales for the security product.
Competition has also pushed Intel Corporation (NASDAQ:INTC) to the point of considering turning itself into a semiconductor foundry manufacturer. It is hoped that the company will continue exploiting alternative revenue opportunities, to offset the impact brought about by the declining PC market and the red-hot competition in mobile chip market.
Transformation
Transformation is ongoing at Intel Corporation (NASDAQ:INTC). The company is doing away with non-core assets, reducing workforce count and focusing on high-margin markets. These are some of the attempts being made to boost revenue and profits. The company is particularly trying to reduce its operating expenses in order to generate higher profits.
In order to realize its business dream, Intel Corporation (NASDAQ:INTC) is looking at emerging markets for opportunities. It is penetrating these markets by making deals with devices makers for chip making opportunities.
There are talks that Intel Corporation (NASDAQ:INTC) is working alongside Samsung Electronics and other smartphone makers for the development of a mobile operating system called Tizen OS which will give it an upper hand in the supplying chips for smartphone makers in the association.
