Intel is launching a new $100 million fund for a Smart Device Innovation Center in Shenzhen, China, to push its chips into smart devices.
Intel, the popular chip making company, is investing in the smart device innovation space in China to strengthen its presence and boost creation of devices that will make use of the chips.
During a developer's event in Shenzhen Wednesday, CEO Brian Krzanich announced that the company will establish an Intel Smart Device Innovation Center and create a $100 million Intel Capital China Smart Device Innovation Fund to make Intel-geared new wearables, internet devices, phones and hybrids.
The Silicon Valley chip maker is an active participant in the development of China's IT industry and ecosystem. Intel Capital has invested more than $670 million in 110 companies in China since 1998, with money flowing in from two already-established investment funds.
With the new venture, Krzanich is hoping to make Intel the chief technology supplier for wearables and Internet of Things. The company will also focus on other deep-rooted categories including smartphones and tablets.
"The center will expand Intel's work beyond tablets and provide local OEMs, ODMs, and software developers with access to Intel technology platforms and enabling support, including master reference designs for turnkey solutions, development tools, supply chain sourcing, quality management and customer support - acting as a bridge between product conception and commercial deployment," Intel said in a press statement released to Business Wire, Tuesday.
Krzanich also discussed new products during his keynote, including Intel Edison, a platform built to help entrepreneurs to build Intel-based wearables with ease. The platform will be available this summer. Krzanich also announced that Intel Gateway Solutions for the Internet of Things, which is based on Intel Quark and Atom processors, will be available as well.
As for smartphones, Intel introduced and demonstrated SoFIA, a chip for low-cost phones that will ship during the fourth quarter of this year. Krzanich also noted that the company will ship 40 million tablets this year.
Following the developer's conference, Intel has come out even stronger with its roots reaching almost every segment of technology. Intel recently acquired Basis smartwatch maker to strengthen its reach in the emerging wearable market.
