The US semiconductor company Intel recorded a massive drop in sales and billions in losses in the first quarter of 2023. As the Santa Clara, California-based company announced on Thursday, sales in the first three months of the year fell by 36 percent to 11.7 billion dollars ( ). At the same time, a record loss of 2.8 billion dollars ( ) was brought in.
The US semiconductor company Intel recorded a massive drop in sales and billions in losses in the first quarter of 2023. As the company, based in Santa Clara, California, announced on Thursday, sales fell in the first three months of the year by 36 percent to 11.7 billion dollars (10.6 billion euros). At the same time, a record loss of 2.8 billion dollars (2.54 billion euros) was retracted.
Intel is one of the world‘s leading semiconductor manufacturers, producing a wide range of products, including the latest generation of computer chips. Rising prices, a global oversupply of chips and at the same time weak demand for hardware are currently causing problems for the chip industry groups. Intel rival Samsung also reported its worst quarterly earnings in 14 years on Thursday.
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