Intel Invests More than $60 Million in Drone Maker
August 26 2015 - 9:10PM
Dow Jones News
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
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
(END) Dow Jones Newswires
August 26, 2015 20:55 ET (00:55 GMT)
Copyright (c) 2015 Dow Jones & Company, Inc.
Intel (NASDAQ:INTC)
Historical Stock Chart
From Aug 2024 to Sep 2024
Intel (NASDAQ:INTC)
Historical Stock Chart
From Sep 2023 to Sep 2024