At Intel, Everything's Considered on the Table

Big changes are afoot at the world's No. 1 chipmaker. With its market share and revenue under siege, Intel(INTC Quote) is on a mission to trim excess fat and regain its competitive form.

CEO Paul Otellini will have no shortage of candidates to cut as he embarks on what is expected to be the company's most radical reorganization in two decades: In addition to making the microprocessors that power three out of every four personal computers, Intel makes chips in products from cell phones to DVD players to telecommunications gear.

According to recent reports, Intel has quietly put some of its communications and mobile-applications processor businesses up for sale. Recent organizational changes in the flash memory division, which had a $154 million operating loss in 2005, have prompted speculation that Intel is readying the business for a spinoff.

Many of Intel's tangential chip businesses are believed to be subsidized by the flagship microprocessor business. ...