Intel say 'worst is over'

The company's operating income was down 56% sequentially to $670m, however, Intel's president and ceo, Paul Otellini, was confident for the future, saying that the market had already reached its nadir. "We believe PC sales bottomed out during the first quarter and that the industry is returning to normal seasonal patterns," said Paul Otellini (pictured), Intel president and ceo. "Intel has adapted well to the current economic environment and we're benefiting from disciplined execution and agility. We're delivering a product portfolio that meets the needs of the changing market, spanning affordable computing to high performance, energy efficient computing."