Dallas, Texas 07/11/2013 (Financialstrend) – Intel Corporation (NASDAQ:INTC) is placing its manufacturing hub in Asia so as to relate to the region’s broad market and take advantage of low-cost labor. The company thinks that the Asian engineers’ expertise will help it design processors that shall be used in smartphones, tablets and PCs. The manufacturing hub in Asia will account for 80% of the testing and packaging of the products of Intel Corporation. The chipmaker opened its first facility outside the U.S. in the northern island of Penang in 1972. This facility is now one of Intel’s biggest technology development centers. Intel’s Malaysia Design Centre has also played an important part in the development of the fourth-generation processor known as Haswell, which was launched in June. The company is also supporting future generation Clover Trail, Bay Trail and Broad well platforms. It also opened centers in India, Taiwan and China, with investments greater than $10 billion. It employs in the above countries more than 20,000 people, one-fifth of the company’s total headcount. In Asia, the company’s logistics and infrastructure are improving, and the Malaysian facility is responsible for the design of chips used in smart phones, tablets, and SOCs. The company employs 3,000 engineers in India, 2,000 engineers in Malaysia, 1000 in Taiwan and 3000 engineers in China. These regions are identified by the company as rapidly growing markets.
Intel Corporation’s (NASDAQ:INTC) share price rose by 0.50% on Wednesday, closing at $23.25 for the day. Intraday prices for the stock touched a low of $22.64 and a high of $23.30 per share. Trading volume stood at 50.04 million shares on Wednesday, with an average one of 40.17 million per day of trading.
Intel Corporation (NASDAQ:INTC) currently has a 52-week low price of $19.23 and a 52-week high price of $26.90 per share. The market cap is $115.58 billion with 4.97 billion shares outstanding and 62% of institutional ownership.