NEW YORK (TheStreet) -- While the U.S. tech media were focused on Apple's (AAPL) Worldwide Developers Conference, Intel (INTC) president Renee James was in Taiwan trying to regain Intel's market momentum.
Intel has long had a China policy that told original equipment manufacturers they had to do business Intel's way, but James delivered a keynote address at the CompuTex trade show in Taiwan to demonstrate Intel can do business their way.
That message was driven home at an Intel press briefing by OEMs such as Asus, which is using Intel chips in Android phones and tablets, as well as its new PCs.
Intel's new "PC reference design," based on its 14 nanometer Broadwell chip, features a 12.5-inch display that is barely a quarter-inch thick, weighs less than 1.5 pounds, and uses a detachable keyboard with no cooling fan. James said 130 new Windows and Android tablets will be offered with Intel chips this year.
The new term for laptop is "convertible," in that the keyboard is detachable and the unit can also act as a tablet. The Surface 3 is a convertible. So is the new Intel reference design.
Since James became Intel president in May 2013, with Brian Krzanich as CEO, Intel stock has gained about 14% to its present level of $27.38. This was based on optimism that Intel had at last figured out the mobile market, which for years had been dominated by companies such as ARM Holdings (ARMH), Qualcomm (QCOM) and Broadcom (BRCM).
That optimism has yet to be reflected in results, however. Intel's net income for the quarter ended in March was $1.93 billion, less than the $2.045 billion it earned a year before. Earnings per share were flat year over year, at 40 cents. Revenue was up less than 1.5% year over year, at $12.76 billion.
Intel has become a yield stock, with a 22 cent-per-share dividend currently yielding 3.3%, and requiring $1.1 billion in earnings to service each quarter. Intel shares peaked at nearly $80 in the year 2000, and were at $32 in early 2004.