Intel Corp. share price down, CEO Krzanich pushes the company towards mobile market presenting a new Dell tablet

The Chief Executive Officer of Intel Corp. – Mr. Brian Krzanich is revealing devices that he believes will show the companys progress in its push into mobile devices. At the annual Intel Developer Forum that took place in San Francisco Mr. Krzanich presented a new Dell tablet with Dells Mr. Michael Dell.

“Weve made good progress getting into tablets,” Krzanich told in an interview for Reuters just ahead of the annual Intel Developer Forum in San Francisco. “Weve gone from nothing to something where I consider us a real tablet manufacturer.”

He also revealed that modem chips manufactured by the company are being used by Samsung Electronics Co. in a smartphone, which is expected to go on sale in Europe.

The new 8-inch tablet called Dell Venue 8 7000 presented by the Chief Executive Officers of the companies is one of the thinnest devices of such type – only 6 millimeters thick, which is about 20% less than Apple Inc.s iPad Mini. A new Intel technology, called RealSense, has been incorporated by Dell in the tablet. The new technology creates a kind of depth map of images viewed through the camera of the device.

Mr. Krzanich, who took over the helm in 2013, has made a promise of putting Intel processors in 40 million tablets in 2014. He introduced special subsidies to attract manufacturers, many of which were small Chinese producers. However, Intels CEO said that strategy was not a long-term solution.

Intel also gained positions in the smartphone market as the company struggled to compete with the already established market leaders. Mr. Krzanich expects to have several smartphone manufacturers to use Intel chips for their devices next year, without the help of subsidies.

Intel Corp. fell by 1.19% on Tuesday to close at $34.91 per share, marking a one-year change of +52.38%. The company is valued at $172.84 billion. According to CNN Money, the 36 analysts offering 12-month price forecasts for Intel Corp. have a median target of $34.05, with a high estimate of $50.00 and a low estimate of $20.00. The median estimate represents a -2.46% decrease from the last price of $34.91.