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Intel sees $15B Net sales
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June 22, 1999: 9:08 a.m. ET
Chip maker targets e-commerce for big growth as Europe outperforms
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LONDON (CNNfn) - Computer chip maker Intel Corp. said Tuesday its electronic commerce revenue will reach $15 billion in 1999 and Europe is its fastest-growing Internet market.
Intel CEO Craig Barrett told a technology conference in London that the company expects 90 percent of its revenue to come from e-commerce by 2002.
Dave Hazell, Intel's director for Northern Europe, told CNNfn.com that business and consumer sales of its Internet-related products in Europe had reached $1 billion a month and were running ahead of the United States in percentage terms.
Europe accounts for 30 percent of Intel's global sales, and Hazell said the transformation of e-commerce in the region would make Internet services the dominant source of revenue. "The obvious percentage is 100 percent," he said.
Hazell was scheduled to meet U.K. finance minister Gordon Brown Tuesday to discuss public-private partnerships to increase e-commerce among small business and initiatives to boost computer provision and training in schools.
Intel also plans to expand its provision of hosting services to European corporations next year -- the service already is available to U.S. companies -- and sees continuing strong demand in the home PC market. ""We are set to see some massive consumer growth, particularly in the United Kingdom, France and Germany, where there are great opportunities for expansion of home PCs.
Intel (INTC) outlined its Net strategy in April and said it aims to be "the building-block supplier to the Internet economy".
"Essentially all of our businesses will be conducted in this fashion," Barrett told the London conference. 
-- from staff and wire reports
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Intel
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