Asia sales surge boosts Intel profit

SOARING demand for personal computers, particularly in Asia and Russia, helped semiconductor giant Intel double its third-quarter profits.

The company reported a net profit of $1.66bn (£993m) compared with profits of $686m for the same period last year.

'Third-quarter revenue grew 15% over the second quarter. That's the highest third-quarter growth rate we've seen in over 25 years,' said Andy Bryant, Intel's chief financial officer. 'It's well above normal seasonal ranges.'

The company reported record shipments of processors, chipsets and motherboards, much of the demand coming from China, India and Russia. It is the company's biggest sales increase in more than three years.

'Our resolve to invest aggressively during the downturn is paying off with double-digit revenue growth and a doubling of profit compared with a year ago,' said chief executive Craig Barrett.

'We've always said IT spending in mature geographies would lag a recovery. We're seeing the effect of the strong economies and the quicker return to purchases. In the mature economies, it's a bit slower.'

But he said there had not been an 'overwhelming rush' to increase corporate IT spending.