Intel cuts Q3 sales forecasts

London, Sep 8 (ANI): American multinational computer chip-maker, Intel has cut its third-quarter revenue estimates and withdrew its full-year sales forecast.

The company said that the reduced demand for its computers and chips from individuals as well as businesses was severely affecting its revenues.

It now expects the third quarter revenue to be anywhere between 12.9 billion dollars and 13.5 billion dollars, down from its previous estimate of 13.8 billion dollars to 14.8 billion dollars, the BBC reports.

The company also said its profit margin could be below the 63%, which had been originally forecast.

Intel does not publish profit outlooks, as a rule, but has warned that it may also make less money on each chip sold, the report said.

The scaled-back revenue estimates come just days ahead Intel's major launch, where the firm will tout a new generation of processors that consume less power, central to its strategy of reinvigorating a stagnant PC industry. (ANI)