Intel To Announce Plan To Cut Costs And Sell Businesses - 1

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Intel To Announce Plan To Cut Costs And Sell Businesses

  • Written by Andrea Miliani Former Tech News Expert
  • Fact-Checked by Justyn Newman Former Lead Cybersecurity Editor

The American tech corporation Intel is expected to soon announce plans to downsize and cut production costs.

According to Reuters , key executives, including the company CEO Pat Gelsinger, will share with the board of directors a new plan with significant suggestions in a few days.

“The plan will include ideas on how to shave overall costs by selling businesses, including its programmable chip unit Altera, that Intel can no longer afford to fund from the company’s once-sizeable profit,” wrote the news agency.

In August, Intel announced through a press release that it will lay off over 15,000 employees , 15% of its workforce, by the end of this year. And the downsizing strategy continues.

The upcoming meeting is planned for mid-September and should address new solutions during one of the most difficult times of the company.

As reported by Reuters, earlier this year intel split its design business from its foundry business as it has been sharing separate financial reports. This has been a strategy to separate customers and keep the secrets of the technological advances of its most advanced products, such as chips.

Intel has been having a hard time keeping up with the fast pace of AI to compete against giants like Nvidia—already developing more affordable AI chips and increasing its sales and production.

While Nvidia is one of the most powerful companies in the market —briefly reaching first place in the stock market this year— with a $3 trillion valuation, Intel has sunk below $100 billion. The earnings reports shared in August revealed a tragic panorama.

Gelsinger and other company experts will propose to reduce expenses on factory expansions including its $32 billion factory in Germany. They have also requested advice from investment companies Morgan Stanley and Goldman Sachs on what products to sell, and will likely offer them as soon as the board approves.

Huawei To Unveil Tri-Fold Device Right After Apple Event - 2

Photo by P. L. on Unsplash

Huawei To Unveil Tri-Fold Device Right After Apple Event

  • Written by Andrea Miliani Former Tech News Expert
  • Fact-Checked by Justyn Newman Former Lead Cybersecurity Editor

The Chinese tech company Huawei announced this Monday that it will unveil its latest technology at an event on September 10th, just a few hours after Apple’s event.

According to TechRadar , the Chinese giant could reveal its tri-foldable phone as reported by multiple tech experts. Huawei did not provide details of the products it will exhibit but a few teasers revealed that the company has multiple surprises for its users.

“Huawei is about to release the world’s first three-fold mobile phone, which will be released at the same time as the iPhone 16 series,” said a user on X . According to 9to5Google , a few images of this new device have been leaked online.

Apple will host its event called It’s Glowtime in a few days, on September 9th. Rumors about a new foldable iPhone have also been spread on social media, but people will have to wait until that day at 10 a.m. PST to confirm.

Huawei will showcase its new products, including the ones in the Hongmeng Zhixing project, part of the HarmonyOS developments, the next day in China, not too long after It’s Glowtime .

“At 14:30 on September 10, Huawei will see the special brand grand ceremony and the launch of Hongmeng Zhixing’s new products. Please look forward to it!” wrote the company in Chinese on the Chinese social media platform Weibo.

Just like Apple Intelligence, Huawei has also been developing its generative AI feature called Harmony Intelligence. The Chinese company has also been developing smart watches and new technologies for health monitoring.

On X, Huawei shared a teaser with the most relevant developments of the new watch. “Prepare to witness the dawn of a new era in health & fitness technology in the latest chapter of #Huawei’s innovation journey!” wrote the company.

Prepare to witness the dawn of a new era in health & fitness technology in the latest chapter of #Huawei ‘s innovation journey! #InnovateForImpact #HuaweiHealth pic.twitter.com/T3NyOEihca — Huawei (@Huawei) September 2, 2024

Among the new features of the new smartwatch, the company highlighted its multi-region optical path design, multi-spacing optical path architecture, and ultra-opaque glass processing.