Boston, MA 01/03/2014 (wallstreetpr) – Intel Corporation (NASDAQ:INTC) closed 2014 on top of peers as the world’s top semiconductor company. This is despite the company lagging behind in tablet and smartphone market coupled with declining PC sales. But that is not the big thing; the thing is that next month will mark a full year since the company made a promise to invest in media.
The company announced in February 2013 that is would start offering Internet-based TV services alongside set-top boxes. However, the company has apparently backed off on this promise and it is now seeking partners, or better still, buyers of its dream-TV service.
The company is reported to be in talks with Verizon Communications (NYSE:VZ) for the sale of its OneCue Web TV technology.
Recently Intel Corporation (NASDAQ:INTC) CEO Brian Krzanich sought to clarify a few things surrounding the botched Internet TV business.
The CEO said this week that it was possible Intel Corporation (NASDAQ:INTC) was going to offer the best TV experience that one can desire in this age, however, why the company is ahead in the technology needed to drive the venture, it lacked a lot in content front. It was either going to be too expensive to obtain quality content to sustain the program, or the company would have ended up in competition with some of its strategic customers. It thus seemed a wise thing to give up on the TV service business.
Sale deal
It was reported in November that Intel Corporation (NASDAQ:INTC) was asking for $500 million for its TV technology. However, in December reports started emerging that the company could settle for even $200 million for OnCue. Whatever the amount, the company seems keen on ridding itself of the media venture headache while raising funds for other ventures.
Going foundry
Throughout last year, it was reported that Intel Corporation (NASDAQ:INTC) was planning to turn itself into a foundry chip manufacturer to shore up the decline in its revenue. This will also help the company cut on its operating cost and thus improved profits. Investors can keep an eye on this company to see who its seeks value for its shareholders in this new year.
