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Sharky Extreme : News From Inside The Industry October 24, 2007


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    By Vangie Beal :  June 19, 2002

    (Press Release) Intel Corporation has recently announced their plans to wind down its Intel Online Services (IOS) Web hosting business. The company will continue providing services to existing customers over the next 12 months and will immediately begin working with those customers to ensure a smooth transition. No new customer engagements will be pursued. As a result of the decision to wind down IOS operations, Intel expects to take a pre-tax charge of approximately $100 million in the second quarter, primarily affecting cost of sales. The charge is related to the write-down of capital assets and other costs associated with the phasing out of IOS activity. The charge was not reflected in the company's mid-quarter update published June 6.


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