The stock of Intel Corporation (NASDAQ:INTC) closed at $39.63 gaining 0.25% in yesterday’s trading session. This company has shuttered its augmented-reality goggles brand, a matter that has sparked a lot of speculation among people familiar with the matter.
The 100-employee unit has already been closed down by the chipmaker. It was back in 2015 that Intel decided to buy Recon. The company hasn’t yet disclosed the amount it directed into the deal. About a third of the employees had been laid off by the provider before the subsequent closing of the unit.
This was said by a person familiar with the matters who insisted on his identity being kept anonymous. He added that within a short period of time the company was eventually going to make the matter public. The company has numerous existing contracts for goggles and it remains dedicated to fulfilling all of them within the shortest time possible.
The Santa Clara, California-based provider takes great pride in its industrious nature. It has promised to continue working on technologies targeting powering augmented and virtual reality. Towards achieving its objective, the company has set aside sufficient funds.
The company’s spokesperson opined, “Intel, the world’s largest chipmaker, has been seeking to reduce its dependence on personal computers and expand its products into other areas such as autonomous cars.”
It goes without saying that indeed proper strategy plays an important role towards the achievement of the goals of any given company. Intel’s plan to expand its products into areas such as the autonomous cars has been upheld by several analysts. According to them, the company will be able to generate more revenues which if properly utilized will help the company make significant progress in terms of business success.
The autonomous cars are a real showcasing of just how fast technological advancements are taking over the world. The company is doing the right thing investing in such an area since this is the big ting today and for the future as well. Whatever happens in the near future as a result of the decision is something we just have to wait and see.
