Incoming Intel CEO Pat Gelsinger commits to manufacturing internally

"I am confident that the majority of our 2023 products will be manufactured internally," Gelsinger told analysts during a conference call as Intel announced its fourth quarter results on Thursday.

San Francisco: Incoming Intel CEO Pat Gelsinger who is taking over from Bob Swan, has said that the majority of the company’s 2023 products should be manufactured internally.

Intel last week announced the appointment of Gelsinger as its new CEO, effective February 15.

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“I am confident that the majority of our 2023 products will be manufactured internally,” Gelsinger told analysts during a conference call as Intel announced its fourth quarter results on Thursday.

“At the same time, given the breadth of our portfolio, it’s likely that we will expand our use of external foundries for certain technologies and products,” he said.

The incoming Intel CEO also said that he is “pleased with the progress made on the health and recovery of the 7-nanometer program.”

The company earlier had to delay the rollout of its 7-nanometer processors due to low yield rates in the chip manufacturing process.

Elaborating the opportunities for Intel in the coming years, Gelsinger said that “the world is becoming more digitally connected, expanding the market in front of us.”

“Intel is the only semiconductor company in the world that has the depth of intelligent silicon, platform vision, design and manufacturing capabilities, and scale that our customers need to fuel their next-generation innovations,” he said.

Intel posted better than expected results in the fourth quarter as revenue hit $20 billion while full-year revenue for 2020 set an all-time record of $77.9 billion, up eight per cent year-on-year.

Fourth-quarter revenue exceeded prior expectations by $2.6 billion driven by record PC-centric revenue with PC unit volumes up 33 per cent year-over-year led by record notebook sales, Intel said.