Intel chairman ’embarrassed’ company had ‘lost its way’

Washington – Intel chairman Andy Bryant has said acknowledged that the company seems to have lost its way.

Long a beneficiary of the falling cost of computing power, chipmaker Intel acknowledged that it was beaten at its own game.

According to the Wall Street Journal, Moore’s law, the industry term coined by Intel co-founder Gordon Moore, suggests that computing will always get cheaper and smaller, but it was Intel’s rivals that benefitted from the most recent shifts to tablets and mobile devices.

The chipmaker’s chairman explained that the company was paying a price for that right now.

Bryant, a longtime Intel executive who now serves as the chipmaker’s chairman, explained that he was personally embarrassed that the company seems to have lost its way.

The data was there to see the shift coming but Intel missed it, Bryant said, adding, kicking off a day-long investor meeting at the company’s Silicon Valley headquarters, the report added.