COVER STORY
THE NEW INTEL
Intel is "deadly serious" about being a player in the fast-growing networking industry, says CEO Barrett. In the past, networking was a sideline to sell more PCs. Now, Barrett is pouring billions into acquisitions, hiring, and marketing.
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| DATA: MERRILL LYNCH & CO., COMPANY REPORTS |
THE BOSS
Mark Christensen, 40, is a rising star at Intel. With the company 18 years, he helped drive networking sales from zero to about $1 billion in the 1990s. Now he leads a 2,500-person group and reports directly to Barrett.
PRODUCTS
The Network Communications Group sells chips used in modems, network interface cards, switches, and routers. Customers include Lucent, Nortel, Ericsson, and Nokia. A new family of 13 chips rolled out last September features a so-called network processor, a programmable chip that speeds and simplifies the design of new networking gear.
HOW INTEL STACKS UP
Lucent Technologies Microelectronics Group is No.1. Stalwarts like Motorola and Texas Instruments also play major roles, while newcomers Broadcom and Conexant Systems are favorites with investors. Intel is barely a blip on the radar screen in the market as a whole, but it's strong in some segments such as chips for broadband.
ACQUISITIONS
Intel has spent big to get into this business. In 1999, it bought Level One Communications (for $2.2 billion), Softcom Microsystems ($149 million), NetBoost ($215 million), and the telecom chips group of Stanford Telecommunications (price not disclosed).
MARKET GROWTH
Such chips are among the fastest-growing of all categories.
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