Intel revenue dives $1bn on hard disk shortage
By Nicole Kobie
Posted on 12 Dec 2011 at 15:08
The ongoing hard disk drive shortage will hit Intel's revenues by $1 billion, the company has admitted.
The shortage, caused by flooding in Thailand, has already increased prices across the industry, with analysts predicting the shortage could last until the third quarter of next year.
Intel said it now expects its fourth quarter revenue to be $13.7 billion, down from predictions of $14.7 billion.
"Sales of personal computers are expected to be up sequentially in the fourth quarter," Intel said. "However, the worldwide PC supply chain is reducing inventories and microprocessor purchases as a result of hard disk drive supply shortages."
Intel said it expected hard disk shortages to continue into the first quarter, but start to recover by the first half of the year.
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