By Don Clark

Intel Corp., in a new effort to sidestep the declining PC market, said its venture capital arm invested more than $60 million in a Hong Kong company that sells consumer drones.

The big chip maker and Yuneec Holding Ltd. plan to collaborate on product development, and Intel chips may be incorporated into future Yuneec drones.

Intel's move is the latest sign that Brian Krzanich, who became chief executive in May 2013, is determined to take the chip maker beyond components for computers. Mr. Krzanich has displayed drones, robots and other new-wave gadgets during some high-profile speeches, including an Intel event in San Francisco last week.

Drones, unlike earlier remote-control planes, can be programmed for autonomous actions such as hovering in a fixed position or flying home. Intel has been working on enhancing their abilities with special cameras designed to help them avoid objects without human assistance.

Mr. Krzanich, in a video presentation, said drones have many potential uses including delivering packages and inspecting disaster sites. "We've got drones on our road map that are going to truly change the world and revolution the industry," he added.

Yuneec, founded in 1999, started with piloted airplanes before introducing its first unmanned drone in 2014. A model called the Typhoon Q500 4K, priced at $1,299, features a ultrahigh definition camera to help enable smooth flying and video capture, the company says.

Where some other drones on the market require assembly or configuration by users, Yuneec stresses that its products are ready to fly out of the box.

Write to Don Clark at don.clark@wsj.com

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(END) Dow Jones Newswires

August 26, 2015 20:31 ET (00:31 GMT)

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