) has employed Amir Faintucha, an ex-senior executive at
competitor, Qualcomm (
), to support the company's initiatives in mobile and Internet
The development comes as a surprise because Intel is known for
its insular culture. This move clearly shows the company's
willingness to improve its dwindling mobile business.
Before joining Intel as a senior vice president and co-general
manager of the Platform Engineering Group, Faintuch, was overseeing
Qualcomm's networking and connectivity businesses as the President
of Qualcomm Atheros.
Faintuch is expected to bring strong networking skills and
experience in system on chips (SOCs) designing to the company.
Intel lacks expertise in SoCs, which bring together features
like Wi-Fi, modems and memory. Intel is known for creating laptop
and desktop computer processors. SoCs are usually found in tablets
CEO Brian Krzanich has made a number of changes to counteract
the declining PC sales. He allowed other chipmakers who were ready
to pay for an access to Intel's cutting-edge factories.
With Intel struggling as a result of declining PC sales and
sluggish progress in mobile, Qualcomm, a leader in the smartphone
chips industry, has been considered by some as a more attractive
place to work.
This may have prompted Anand Chandrasekher, an Intel senior
executive who had been with the company for 25 years, to join
Qualcomm in 2012 as its chief marketing officer.
Intel currently sports a Zacks Rank #1 (Strong Buy). Investors
can also consider NVIDIA Corp (
) and Intersil Corp. (
), both of which carry a Zacks Rank #2 (Buy).
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