Intel posts positive financials despite ‘negative impact’ of HDD shortage
Inventory levels hit, but PC sales unaffected
Despite being “negatively impacted” by the HDD crisis, Intel was able to post better than expected quarterly results.
With the effects of the HDD shortage following flooding in Thailand last year, Intel claimed that it saw its inventory levels reduced during the fourth quarter of 2011, and into the first part of this year.
However despite the “negative impact” of the shortage, Intel’s CFO Commentary on its quarterly results showed that its PC business was not affected by lower sales.
“Despite this reduction in inventory levels, it is our belief that the shortage did not impact actual sales of personal computers in the first quarter with demand trends playing out as expected.”
Intel believes that it has come through the worst of the effects of the HDD shortage and does not anticipate any further disruption.
“We believe that the hard drive supply situation improved as we progressed through the first quarter and we are not forecasting any negative impacts to our business going forward.”
In the firm’s quarterly results it posted $12.9 billion in revenues, eyeing up further growth as it gets stuck into the smartphone and tablet markets with the Medfield chip.