- Clock ticks down on France government nomination
- 'Devastated' Australian tennis star Purcell provisionally suspended for doping
- Mozambique on edge as judges rule on disputed election
- Mobile cinema brings Tunisians big screen experience
- Philippines says to acquire US Typhon missile system
- Honda and Nissan to launch merger talks
- Police arrest suspect who set woman on fire in New York subway
- China vows 'cooperation' over ship linked to severed Baltic Sea cables
- Australian tennis star Purcell provisionally suspended for doping
- Asian markets track Wall St rally as US inflation eases rate fears
- Luxury Western goods line Russian stores, three years into sanctions
- Wallace and Gromit return with comic warning about AI dystopia
- Philippine military says will acquire US Typhon missile system
- Afghan bread, the humble centrepiece of every meal
- Honda and Nissan expected to begin merger talks
- 'Draconian' Vietnam internet law heightens free speech fears
- Israeli women mobilise against ultra-Orthodox military exemptions
- Asian markets track Wall St rally as US inflation eases rate worries
- Tens of thousands protest in Serbian capital over fatal train station accident
- Trump vows to 'stop transgender lunacy' as a top priority
- Daniels throws five TDs as Commanders down Eagles, Lions and Vikings win
- 'Who's next?': Misinformation and online threats after US CEO slaying
- Only 12 trucks delivered food, water in North Gaza Governorate since October: Oxfam
- InterContinental Hotels Group PLC Announces Transaction in Own Shares - December 23
- Melrose Group Publicly Files Complaint to the Ontario Securities Commission
- Langers edge Tiger and son Charlie in PNC Championship playoff
- Explosive batsman Jacobs gets New Zealand call-up for Sri Lanka series
- Holders PSG edge through on penalties in French Cup
- Slovak PM Fico on surprise visit to Kremlin to talk gas deliveries
- Daniels throw five TDs as Commanders down Eagles
- Atalanta fight back to take top spot in Serie A, Roma hit five
- Mancini admits regrets over leaving Italy for Saudi Arabia
- Run machine Ayub shines as Pakistan sweep South Africa
- Slovak PM Fico on surprise visit to Kremlin
- Gaza rescuers say Israeli strikes kill 35
- 'Incredible' Liverpool must stay focused: Slot
- Maresca 'absolutely happy' as title-chasing Chelsea drop points in Everton draw
- Salah happy wherever career ends after inspiring Liverpool rout
- Three and easy as Dortmund move into Bundesliga top six
- Liverpool hit Spurs for six, Man Utd embarrassed by Bournemouth
- Netanyahu vows to act with 'force, determination' against Yemen's Huthis
- Mbappe back from 'bottom' as Real Madrid down Sevilla
- Ali hat-trick helps champions Ahly crush Belouizdad
- France kept on tenterhooks over new government
- Salah stars as rampant Liverpool hit Spurs for six
- Syria's new leader says all weapons to come under 'state control'
- 'Sonic 3' zips to top of N.America box office
- Rome's Trevi Fountain reopens to limited crowds
- Mbappe strikes as Real Madrid down Sevilla
- 'Nervous' Man Utd humiliated by Bournemouth
Intel sales hit record on chip demand as shortage lingers
Intel on Wednesday said 2021 was a record year for sales at the chip maker as it navigated unprecedented demand and supply chain constraints.
The US-based firm also saw costs rise and margins shrink as it shifted to a more sophisticated line of semi-conductors, analysts noted.
"The fourth quarter represented a great finish to a great year," said Intel chief executive Pat Gelsinger.
Intel revenue for last year tallied $79 billion, some $20.5 billion of which it took in during the final three months, according to its earnings report.
Profit in the quarter was $4.6 billion, however, in a 21 percent decrease from the same period a year earlier.
Profit for 2021 totaled $19.9 billion, about five percent less than the net income in the prior year.
Last year was marked by "unprecedented demand tempered by supply chain constraints" that are expected to continue through this year into next year, Gelsinger said during an earnings call.
A global computer chip shortage has afflicted a broad array of industries from smartphones and laptops to cars and home appliances.
US chip giant Intel finds itself at the heart of this phenomenon, benefiting from heightened demand but facing challenges producing ever more sophisticated semiconductors driving modern devices.
Intel has invested heavily in semiconductor production in the United States and Europe over the past year, with a recently announced strategy that relies on expanding in-house manufacturing and increased use of subcontracted factories.
US lawmakers were studying proposals Wednesday to jumpstart high-tech research and manufacturing, boost competition with China and ease a global shortage of crucial computer chips.
The House Democrats' "America Competes" bill, unveiled late Tuesday, is their version of the Senate's $200 billion US Innovation and Competition Act, aimed at addressing supply bottlenecks.
US President Joe Biden has praised Intel's plans to spend $20 billion on a new US semiconductor facility, hailing the "historic" investment even as a global chip shortage fans the inflation wave weighing on his leadership.
Biden is urging manufacturers to bring production back to the United States, which was once a leader in making the chips which have become scarce during the pandemic.
J.Williams--AMWN